Facebook to pay 5 billion dollars fine to settle privacy concerns

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Facebook will pay a record $5billion fine to settle privacy concerns, the US Federal Trade Commission (FTC) has said.

The social network must also establish an independent privacy committee that Facebook’s chief executive Mark Zuckerberg will not have control over.

The FTC had been probing allegations political consultancy Cambridge Analytica improperly obtained the data of up to 87 million Facebook users.

The probe then widened to include other issues such as facial recognition.

The $5billion fine is believed to be the biggest ever imposed on any company for violating consumers’ privacy.

He added that the heavy fine was designed to change Facebook’s entire privacy culture to decrease the likelihood of continued violations.