Facebook will pay $5 BILLION for Cambridge Analytica Breach

The FTC announced that it will fine Facebook $5 Billion (yes that’s with a “B”) and subject the company to new regulations based on the Cambridge Analytica breach where millions of users data was harvested and targeted for political campaigning.  To date, this is the most expensive fine levied against a company for breaching personal data.

Here’s the original FTC announcement from FTC.gov:
https://www.ftc.gov/news-events/press-releases/2019/07/ftc-imposes-5-billion-penalty-sweeping-new-privacy-restrictions

Some background on the breach can be found on Wikipedia:
https://en.wikipedia.org/wiki/Facebook%E2%80%93Cambridge_Analytica_data_scandal

And here are some articles from around the web for more details.

Wall Street Journal
https://www.wsj.com/articles/ftc-approves-roughly-5-billion-facebook-settlement-11562960538

CNBC
https://www.cnbc.com/2019/07/24/facebook-to-pay-5-billion-for-privacy-lapses-ftc-announces.html

CNET
https://www.cnet.com/news/facebooks-5-billion-ftc-fine-is-just-the-start-of-its-problems/

Engadget.com
https://www.engadget.com/2019/07/24/facebook-will-pay-5-billion-fine-for-cambridge-analytica-data-b/