Facebook to pay record $5 bn US fine over privacy; faces antitrust probe

US Federal Trade Commission probe that resulted in the $5 billion settlement uncovered a wide range of privacy issues

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International news: Facebook Inc will pay a record-breaking $5 billion fine to resolve a government probe into its privacy practices and will boost safeguards on user data, the US Federal Trade Commission and the social media company said on Wednesday.

After the stock market closed, Facebook disclosed as a part of its earnings report that the FTC told it last month that the commission had opened a separate antitrust investigation of the company. The FTC, which early in the day issued a statement and held a press conference about the privacy settlement, did not mention an antitrust probe.

The FTC probe that resulted in the $5 billion settlement uncovered a wide range of privacy issues. It was triggered last year by allegations that...read more

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