A billion here and a billion there, and soon you are talking about real money.
Facebook has provided a general description of the number of sanctions it may face when negotiating an agreement with the Federal Trade Commission on the provision of incorrect personal information to British companies Cambridge Analytica.
How many? Up to $ 5 billion, a figure lower than the previous agreement between the FTC and technology companies that imply the confidentiality and practice of their data.
In its quarterly earnings report, Facebook announced a cost of $ 3 billion to calculate the potential penalties this would entail in the agreement with the FTC. The company said "the magnitude of the losses in this case" could reach $ 5 billion.
"The problem remains unresolved and there is no guarantee as to the timing or conditions of the end results," said Facebook in its statement.
Then, even if all the details have not been resolved, and even if the settlement negotiations fail and the case is finally decided, he says the FTC seems to be seeking a penalty of this magnitude.
Of course, Facebook can be considered a recidivist in the Cambridge Analytica problem. The company signed a 20-year approval decision with the FTC in 2011, committing to respect certain confidentiality rules, including obtaining user approval before sharing its information with third parties.
0 Comments