US federal court approves Facebook’s $5 billion fine settlement

The infamous Cambridge Analytica incident has revealed the privacy policies of social giant Facebook and exposed the shocking scandal of Facebook’s wanton sale of user data.

After the Cambridge Analytica, the European Union and the US regulators also continued to put pressure on Facebook. Since then, Facebook has appeared in several security incidents, revealing a large amount of user privacy information.

However, the Cambridge Analysis incident itself will eventually come to an end. A few days ago, the US Federal Court has approved Facebook to pay a settlement of 5 billion US dollars in fines.

After the Cambridge Analysis incident broke out, Facebook and Zuckerberg were also repeatedly investigated, but last summer Facebook announced that it had reached a settlement with the US Federal Trade Commission.

The content of the settlement is mainly Facebook ’s voluntary payment of a $5 billion fine, and the need to thoroughly improve privacy issues and ensure that similar incidents will not occur again.

Despite the fact that such high fines are indeed many, they are still affordable for Facebook. So in the end, Zuckerberg decided to pay a fine and settle with the US Federal Trade Commission. Facebook ’s stock price also skyrocketed after the news of the settlement. Because investors on Facebook also believe that this fine is worth it.

Yesterday’s Facebook announcement said that the US Federal Court has approved the settlement treaty, which also means that the infamous Cambridge analysis scandal has finally come to an end.

Via: thehill