Covid-19
Advertisement

Facebook Expects to Pay Up to $5 Billion Fine to FTC

Facebook has reportedly set aside billions of dollars to cover an anticipated fine from US regulators.

 

A new report from the New York Times reveals that Facebook has set aside $3 billion in anticipation of a fine from the FTC of up to $5 billion.

Facebook Made the Disclosure in Quarterly Financial Report

The New York Timesreported this afternoon that Facebook had set aside about $3 billion in anticipation of a major fine from the US Federal Trade Commission, possibly as much as $5 billion, which would make it the largest fine ever levied against a tech company.

The New York Time’sMike Isaac broke the news over Twitter this afternoon.

Advertisement
Follow Us on

Stay on top of the latest engineering news

Just enter your email and we’ll take care of the rest:

By subscribing, you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.

Advertisement