Facebook sets aside up to $ 5 billion for privacy violation: NPR

Facebook expects to pay a fine of up to $ 5 billion under a settlement with federal regulators. The technology giant published this figure in its financial results for the first quarter of 2019.

Facebook has begun negotiations with the Federal Trade Commission as a result of concerns that the company allegedly violated a 2011 licensing decree. At the time, the company's executives said the company was in danger. company had promised to warn consumers of their "clear and visible notification" when they shared their data with others and to obtain the "explicit consent".

But, according to experts, Facebook has broken its promise. An example: give user data to Cambridge Analytica, the policy consulting firm that worked for the Trump 2016 campaign.

Facebook estimates that the fine will be in the range of $ 3 to $ 5 billion and has reserved $ 3 billion for payment. The company statement states: "The question remains unresolved and there is no guarantee as to the timing or conditions of any final outcome".

It would not be the biggest fine imposed by the FTC. In 2016, the agency has reached a total value of $ 14.7 billion with Volkswagen. Facebook 's total business figure for the first quarter amounted to more than $ 15 billion. Whatever the final figure, the company has the money to pay the estimated fine.

Facebook's monthly active users grew to 2.38 billion, an increase of 8% over the previous year.

In a results conference call, CEO Mark Zuckerberg did not discuss the settlement in detail. He focused his remarks on Facebook's growth plans, including the creation of a private messaging platform. He also highlighted the European model of regulation of privacy, which could work globally if other countries choose to do the same.