Facebook staring down possibility of 20 years of FTC oversight to end privacy probe

Posted:
in General Discussion edited May 14
Facebook's negotiations with the Federal Trade Commission to end an investigation into the social network's alleged privacy violations may involve a 20-year period of government oversight, with a deal between the two potentially a month away from completion.

Facebook CEO and Founder Mark Zuckerberg
Facebook CEO and Founder Mark Zuckerberg


The probe into Facebook by the FTC commenced in 2018 and is still ongoing, looking into allegations relating to the social network's conduct in the Cambridge Analytica scandal. The FTC investigation is also examining whether Facebook violated a consent pact with the US government in 2011, one that required the company to advise the FTC of its privacy policies for a 20 year period.

While it was previously reported Facebook was open to a period of greater oversight by the US government as part of its deal to end the probe, sources of Reuters claim it is prepared to subject itself to another 20-year period of scrutiny.

It is thought the oversight would have the tech giant perform a more rigorous privacy review of new products and services ahead of launch, documenting decisions and anticipated privacy issues, and increased policing of third-party app developers. Executives would be required to assess privacy safeguards and sign off on them on a quarterly basis, before they are reviewed by an independent group of members of the board, with extra FTC-approved checks by a third-party watchdog also on the cards.

The period would also be accompanied by what is believed to be a record-setting fine for privacy violations, which Facebook is willing to pay. In its most recent financial results, it revealed costs for the fine in the region of $5 billion, with Facebook also setting aside $3 billion to go towards its expenses.

The report sources also indicated that no resolution to the negotiations is to be expected this week, and that it is likely that an outcome could be reached in a month's time.

The yet-to-end negotiations are already being criticized by US lawmakers, with Senators Richard Blumenthal and Josh Hawley writing to the FTC that a $5 billion civil penalty is not enough, and officials including founder Mark Zuckerberg should be held personally responsible.

Comments

  • Reply 1 of 8
    lkrupplkrupp Posts: 7,162member
    Remember when Apple got “court supervision” over the iBooks anti-trust baloney? Was that five years? I can’t remember.
    edited May 14 watto_cobra
  • Reply 2 of 8
    rotateleftbyterotateleftbyte Posts: 1,147member
    Only 20 years? Can they change the CEO for starters?
    watto_cobra
  • Reply 3 of 8
    flydogflydog Posts: 328member
    $5 billion in fines and 20 years of oversight is a slap on the wrist to a company this size.  Nothing will change. 
    olswatto_cobra
  • Reply 4 of 8
    Until executives and other leadership are PERSONALLY held responsible for the actions of the companies they run, nothing will change.

    And if you try to hide behind "corporate personhood" well, then we need to start dissolving some of these bad actors.
    macseekerolswatto_cobra
  • Reply 5 of 8
    dewmedewme Posts: 2,124member
    Oh my... FTC oversight and a $5B fine, I'm sure the Zuckerbunny is quaking in his boots knowing that g-men of the caliber of Ajit Pai will be breathing down the back of his neck to "do the right thing" and knowing he'll have to cut back on his weekly protein shake budget. How will he ever sleep at night ever again? Um, easy answer, we all chip in to build him a "glowing sleep box" that's about 8-ft by 10-ft and securely located inside a federal prison in the middle of nowhere. Maybe he can share the same "sleep box" with a roomy name Julian and they can skateboard around in little circles inside their glowing box for the next decade or two.
    watto_cobra
  • Reply 6 of 8
    fastasleepfastasleep Posts: 3,087member
    dewme said:
    Oh my... FTC oversight and a $5B fine, I'm sure the Zuckerbunny is quaking in his boots knowing that g-men of the caliber of Ajit Pai will be breathing down the back of his neck to "do the right thing" and knowing he'll have to cut back on his weekly protein shake budget. How will he ever sleep at night ever again? Um, easy answer, we all chip in to build him a "glowing sleep box" that's about 8-ft by 10-ft and securely located inside a federal prison in the middle of nowhere. Maybe he can share the same "sleep box" with a roomy name Julian and they can skateboard around in little circles inside their glowing box for the next decade or two.
    Ajit Pai is the head of the FCC, not the FTC.
    watto_cobra
  • Reply 7 of 8
    tobiantobian Posts: 21member
    20 years of facebook bigdata to oversight? Great deal then! :smiley: 
    edited May 15 watto_cobra
  • Reply 8 of 8
    badmonkbadmonk Posts: 819member
    Still the company should have seen this coming...it is poor management...their own IT security personnel brought these issues to senior management and were discounted.

    Pathetic.
    watto_cobra
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