After a thorough investigation, the United States government finally released its decision regarding the damage suit charges faced by Facebook. According to the Federal Trade Commission, the social media giant needs to pay $5bn after compromising the privacy of the Americans.
The said decision got opposing reactions from the public. Some said that it is too harsh to fine such amount to a company that greatly helps the economy. To note, FB’s annual revenue increased significantly, from 7.87 billion in 2013 to 55.8 billion US dollars last year. On the other hand, some locals considered the fine as too low for a massive privacy kill.
Breach of Privacy: EXTREMELY Hard Slap for Tech Giant
The issue of privacy breach occurred at the height of the 2016 elections. According to sources, the British firm Cambridge Analytica accessed the crucial information of most U.S. voters. And it was later found out that Facebook participated in the wide-scale operation of profiling voters to favor presidential-aspirant (that time), Donald Trump.
FB exploited its capability to route traffics online and lured people to join in several quizzes.
The ‘odd’ thing about these online tests, according to FTC, is that it outsourced personal information from the users.
How FB Accept the Judgement
Since April, Facebook officials said that they are expecting a fine anytime soon. In fact, it immediately informed its investors that the repay would reach more than a quarter of their annual profit.
Aside from paying the settlement, FB is also doing its best now to patch the security lapses and technical gaps that may compromise the privacy of its billions of users.
FB main man Mark Zuckerberg pledged that the company would frame stricter privacy terms this time. He also apologized for committing such lapses and promised not to break the public’s trust again.