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FILE PHOTO: The Facebook logo is presented at the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS / Charles Platiau / File Photo
WASHINGTON (Reuters) – The US government and Facebook Inc. are negotiating an agreement on the company's privacy breaches that could impose a multi-billion-dollar online social network, Washington reported on Thursday. Post.
The paper said that the US Federal Trade Commission and Facebook had not agreed on an amount, citing two people he thought knew the issue. Facebook recorded a turnover of 16.9 billion USD for the fourth quarter and a profit of 6.9 billion USD.
The FTC has investigated revelations that Facebook inappropriately shared information belonging to 87 million of its users with the now defunct British policy consultancy Cambridge Analytica.
The purpose of the investigation was to determine whether data sharing with Cambridge Analytica and other privacy disputes violated the 2011 agreement with the FTC to protect the privacy of users.
A potential settlement may also require changes in the way Facebook manages its activities.
Facebook declined to comment directly on the Washington Post report. "We are working with the FTC and will continue to work with the FTC," said a spokeswoman.
The FTC declined to comment.
The FTC's heaviest penalty for a breach of privacy was $ 22.5 million on Google's Alphabet Inc. in 2012. The agency has reached larger agreements on other issues.
The FTC entered into a $ 1.2 billion deal with pharmaceutical company Teva Pharmaceutical Industries in 2015 to resolve antitrust violations committed by Cephalon, which it had acquired.
Diane Bartz report; Additional report by Paresh Dave; Edited by Bill Rigby
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