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Report: Facebook, FTC Discuss Multibillion Dollar Fine


FILE- In this March 29, 2018, file photo, the logo for Facebook appears on screens at the Nasdaq MarketSite in New York's Times Square. A report says Facebook and the FTC are negotiating a "multibillion dollar" fine for the social network's privacy lapses.

A report says Facebook and the Federal Trade Commission are negotiating a “multibillion dollar” fine for the social network's privacy lapses.

The Washington Post said Thursday that the fine would be the largest ever imposed on a tech company. Citing unnamed sources, it also said the two sides have not yet agreed on an exact amount.

Facebook has had several high-profile privacy lapses in the past couple of years. The FTC has been looking into the Cambridge Analytica scandal since last March. The data mining firm accessed the data of some 87 million Facebook users without their consent.

At issue is whether Facebook is in violation of a 2011 agreement with the FTC promising to protect user privacy. Facebook and the FTC declined to comment.

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