Facebook will pay a record $5bn (£4bn) penalty in the US for “deceiving” users about their ability to keep personal information private, after a year-long investigation into the Cambridge Analytica data breach.
The Federal Trade Commission (FTC), the US consumer regulator, also announced a lawsuit against Cambridge Analytica and proposed settlements with the data analysis firm’s former chief executive Alexander Nix and its app developer Aleksandr Kogan.
The $5bn fine for Facebook dwarfs the previous record for the largest fine handed down by the FTC for violation of consumers’ privacy, which was a $275m penalty for consumer credit agency Equifax.
