Facebook and the Federal Trade Commission would be involved in multi-billion dollar deal that would put an end to the federal agency's investigation into social media privacy policies following the scandal Cambridge Analytica.
That would be the biggest penalty the FTC has ever imposed on a technology company, although the two have not yet settled the exact number, according to the Washington Post, which announced the news for the first time.
Facebook reiterated that he was working with US and UK authorities regarding privacy issues, but declined to comment further.
The FTC's Facebook investigation began last March, when the New York Times and the Guardian issued shocking reports that Facebook inadvertently allowed Cambridge Analytica, a British consulting firm, to collect personal data on nearly 70 million of its users.
The agency is trying to determine if Facebook's conduct (in addition to a series of additional privacy scandals) amounts to a violation of the 2011 agreement between Facebook and the FTC to improve its privacy practices, Post reported. Facebook said that he did not violate the agreement.
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If Facebook accepts an agreement with the FTC, this agreement should be approved by a judge. Conversely, the company could choose to fight the FTC, which would likely result in federal court.