Facebook may be facing a multi-billion dollar fine from the FTC over its privacy practices, but it’s the possibility of mandated changes to its data-driven business model that could be much more threatening to the company and its bottom line. The social network is negotiating a potential settlement to end the FTC’s year-old privacy investigation, triggered by revelations that Facebook allowed the personal information of up to 87 million users to fall into the hands of the Trump-linked political data firm Cambridge Analytica. That settlement, if it comes to pass, is expected to include a fine in the billions of dollars, in what would be the largest financial penalty the agency has ever imposed on a company.Story Continued Below But there’s much more at risk for Facebook when it comes to the FTC. The agency could seek changes in company behavior as part of a negotiated settlement, including limiting the way it collects and handles user data — the lifeblood of Facebook’s advertising-driven business. The FTC could also demand the company accept tighter regulatory oversight; new, more aggressive privacy auditors; or even management changes, up to the level of Chairman and CEO Mark Zuckerberg. It’s those those kinds of remedies… Read full this story
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