Social media giant Facebook has agreed to pay a whopping 5 billion USD to the Federal Trade Commission as a penalty for privacy violations, which is the largest amount that's ever been imposed on any company for violating consumers' privacy and almost 20 times greater than the largest privacy or data security penalty ever imposed worldwide.
In addition to paying the record 5 billion USD penalty, Facebook has also agreed to submit itself to new restrictions and to create a modified corporate structure that will hold the company accountable for the decisions it makes about its users' privacy.
