Following the scandal of Cambridge Analytica which involved about 87 million Facebook users, the Federal Trade Commission imposes a 9% of global revenue fine to Facebook INC.
The fine materialises in $5 billion as per revenue 2018.
The settlement will extend for 20 years for execution.
Facebook claims that Cambridge Analytical violates term of use when performing their actions, nonetheless, communication analyses showed knowledge of the violation without action.
In addition, the Security Exchange Commission announced a settlement on $100 million for misleading information on data usage.
Several agencies have disclosed that the “one year grace period” for implementation of data protection and information security ended and enforcement of controls will be applied for now on.