The Washington Post reports:
Facebook’s disclosure this week that its search tools were used to collect data on most of its 2.2 billion users could potentially trigger record fines and create new legal vulnerability for not having prevented risks to user data, said three former federal officials.
The three former officials, all of whom were at the Federal Trade Commission during the privacy investigation that led to a 2011 consent decree with Facebook, said the company’s latest mishap may violate the decree’s provisions requiring the implementation of a privacy program.
“Is it possible that this episode is also a violation of the consent decree? I would say yes,” said Vladeck, now a Georgetown University law professor. He predicted that Facebook may face fines of $1 billion or more for this and a previously reported mishap in which a political consultancy, Cambridge Analytica, improperly gained access to information on up to 87 million Facebook users, of whom 71 million are Americans.
Facebook’s current market cap stands at $456.67 billion.