Facebook was fined $ 5 billion for violation of confidentiality laws

The Federal Trade Commission has fined Facebook $ 5 billion.

“It would also represent one of the most aggressive regulatory actions by the Trump administration, and a sign of the government’s willingness to punish one of the country’s biggest and most powerful companies”, — reports New York Times.

US agencies have initiated this investigation after a scandal with involvement of Cambridge Analytica.

Five billion dollars – currently it is a record amount of recovery faced by a technology company. The previous record belongs to Google, in 2012 the corporation was fined $ 22.5 million. Experts say that the loss of five billion hardly hurts Facebook, which last year raised $ 15 billion.

“In the upcoming weeks the much-anticipated settlement still needs final approval from the Justice Department, which rarely rejects settlements reached by the agency”, — writes New York Times.

In addition to the fine, Facebook agreed to a more comprehensive oversight of how it processes user’s data.