Facebook expects to pay FTC up to $5 billion (!!!) for privacy violations

We now know just how high Facebook's "record-setting" FTC fine could be.

Facebook expects to pay between $3 billion and $5 billion to the FTC as the result of an investigation into its privacy policies. The company disclosed the potential fine to investors in its first quarter earnings report. 

It was previously reported to be a "record-setting" fine by the Washington Post, which recently reported the agency is also seeking to hold Mark Zuckerberg personally accountable for Facebook's privacy violations. Facebook's Q1 disclosure marks the first time the company has commented publicly on the amount of the fine. Read more...

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from Mashable http://bit.ly/2GE45qi