Facebook risks millions of dollars in FTC fines over data crisis

Former Federal Trade Commission officials say that Facebook Inc. appears to have breached a 2011 consent agreement to safeguard users’ personal information and may be facing hundreds of millions of dollars in fines. The agency could fine Facebook up to $40,000 per violation per day—which could add up quickly with millions of users involved—if it finds the social media giant broke its earlier promises to protect user data, they say. “If I had to bet, they will find violations,” said Jessica Rich, a former head of the FTC’s consumer protection bureau.
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