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Possible $5 billion Facebook fine echoes European tech penalties

Updated : April 25, 2019 07:04 PM IST

While investors appear to have shrugged it off for now, the potential fine from the US Federal Trade Commission would be more than a slap on the wrist for Facebook.
Facebook said Wednesday it is planning for a fine between $3 billion and $5 billion and formally set aside $3 billion for the FTC, which is investigating whether the social network violated its users’ privacy.
The amount is a contingency against a possible penalty; Facebook noted that the “matter remains unresolved.”
Possible $5 billion Facebook fine echoes European tech penalties
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