Facebook fined $ 343 billion for leaking data of 8.7 million users

Facebook found personal information of Facebook user Cambridge analytics from Facebook's negligence: The penalty amounted to Facebook's one-month revenue!

Washington, Ta. 13 July 2019, Saturday

Facebook was severely told to disclose personal information to users. Today the US Federal Trade Commission (FTC) has fined $ 5 billion for not maintaining the integrity of the user. If we count in rupees, this amount is 342.80 billion or 34280 crores. Facebook has received small and large penalties in various countries on the issue of the Cambridge Analytica scandal. But this is the first case of fine in the United States.

This is the biggest penalty ever made by any technology company in the world till now. Five FTC officials fixed the penalty amount by 2 votes against 3. Although this penalty has not yet been officially announced, which is now likely to happen soon.

In 2018, the world was not aware of the fact that Facebook was not safe, while the scam of data theft was found in Cambridge Analytica. The advantage of Facebook's poor security was obtained by the British Communication Technology Company, Cambridge Analyktica, receiving 8.7 million Facebook users personal information (name, birth details, e-mail, phone number, address etc.). Whenever a person opens an account in Facebook, he has to give all this information. At the same time, Facebook has a claim that this information company does not give anyone. That is, all the details of the user remain confidential.

However many experts agree notwithstanding the penalty amount. That's because 5 billion dollars for Facebook is a very small amount. Facebook's last quarter profit was $ 15 billion. Accordingly, a fine of one month's income has been penalized. However, Facebook's reputation has suffered a lot. On the other hand, even after the penalty amount was fixed, the stock of Facebook increased rather than decreasing.

Facebook shares rose almost 1.8 percent to US $ 206 in the stock market. In 2011, Facebook confirmed that any user information will be obtained prior to sharing the information with the user. Facebook did not do that in this case. The penalty was fixed on the basis of this negligence.

Cambridge Analytica created a quiz app on Facebook. The user could play this quiz game with a Facebook account. But the users did not know that while the game was playing, the analytics stole all its details. Not only this, the stolen details were also used for the washing of people during the US presidential election. In America-Europe, the laws of secrecy are very strict. People do not like the people who take their photo without the knowledge of the people. Here the information was stolen out of information, and the original reason for this was Facebook's negligence.

After this scandal, Facebook went through the whole world. The US Parliament also summoned Mark Zuckerberg before a parliamentary committee to make a detailed explanation. FTC, which focuses on business operations in the United States, has decided to penalize Facebook. There is a possibility that some other restrictions may also be put on Facebook with the penalty.

Even after the information was leaked, Facebook did not have enough steps to keep users' details safe. Once the information was leak, the information became frequent leaks. So it became clear that Facebook is showing negligence on keeping the details of its users confidential.