The US Federal Trade Commission (FTC) is reported negotiating a settlement with Facebook over Facebook’s recent privacy lapses.
A report from the Washington Post stated that the social media giant may have to pay fines of several billion.
This follows the last year fallout starting from the Cambridge Analytica scandal. Cambridge Analytica, a consulting firm were found to have scraped data of over 87 million users, data which was used to influence voters during the Presidential elections in 2016.
Facebook faced a major embarrassment later when internal documents were obtained by the UK Parliament which found several instances where Facebook willfully used dubious means to target ads or obtain user data.
Facebook’s may be the biggest ever fine.
The biggest ever fine levied by FTC was against Teva Pharmaceutical Industries for $1.2 billion, however reportedly the Facebook settlement may be worth more than 3 times that amount.