Facebook could theoretically owe the FTC $7.1 trillion for recent data scandals

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Facebook could theoretically owe the FTC $7.1 trillion for recent data scandals

By Rachel Kaser

Facebook might soon have a bigger adversary: The Federal Trade Commission (FTC), which could put Facebook on the hook for more money than even its redoubtable coffers could supply.

The FC has since confirmed that it’s conducting a “non-public investigation into these practices.” According to the FTC’s website, the maximum civil penalty amount it can charge for a violation this year is $41,484.

The Washington Post estimated, with the number of American users who may have had their data scraped (which would be all of them), and the number of users who potentially had their information compromised by Cambridge Analytica — the maximum amount of money the FTC could conceivably fine Facebook would be roughly $7.1 trillion.

Read the full article and learn more about Data Privacy here.

Here’s How To Make Sure You, Your Business & Website Is FTC Compliant

By now it should be clear how important it is for you to be FTC compliant. But how can you do that without spending $7,500-$8,000 or more on Internet Attorneys?

Smart business owners around the world are doing it with the help of FTC Guardian.

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  • How to Avoid FTC Claims When Collecting Leads With Optin Forms
  • 3 Privacy Policy Mistakes Every Digital Marketer Is Making, And Why You’re In The FTC Crosshairs.
  • And Much More…

Remember: legal protection is a massively important part of your business, and it’s one you cannot afford to ignore any longer.

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Disclaimer:  This article is provided for informational purposes only. It’s not legal advice, and no attorney-client relationship is created. Neither the author nor FTC Guardian, Inc. is endorsed by the Federal Trade Commission.

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