The US Federal Trade Commission (FTC) has approved the penalty of $ 500 million (about Rs 34 thousand crore) on the technology giants Facebook. This is the world's largest penalty on any technology company. Earlier, a penalty of $ 2.2 million was imposed on Google. According to reports from various American newspapers, FTC has imposed this fine on Facebook for violation of privacy and tampering with data.
FTC is investigating this matter, in which political consultancy company Cambridge Analytics is wrongly accused of obtaining data of more than 80 million Facebook users. Both Facebook and FTC have refused to comment on this matter. According to various reports, this matter has been approved by a majority of the 3-2, in which the Republican Party supporters and the Democratic Party were in opposition to this settlement.
Now this case has gone to the Civil Division's Justice Department for review. It is not clear now how long it will take in the review of this case. The Justice Department has refused to comment on the Facebook issue. For any company, making such a big penalty can make it disabled, but Facebook is not from any company.
Last year Facebook's total revenue was $ 56 billion (about 3.8 lakh crore). According to estimates this year, the company's total income will be $ 69 billion Facebook had said earlier this year that it had a penalty of $ 500 million. The company had informed its investors in April that the company has kept the majority for the offense.
What is the Cambridge Analyte case
Cambridge Analyktica was a British political counselor company, which is accused of misrepresenting and misusing crores of Facebook users. The company is accused of using this data to benefit US President Donald Trump. Facebook has admitted in the matter that its 8.7 million users of data have mis-shared their information with Cambridge Analyca. At that time, the data of leaked Indian users was revealed in the leak. Also the name of the Congress was also associated with Cambridge Analyca.
