Facebook Expects Record FTC Fine Up To $5B Over Their Dealings With Data-Mining Cambridge Analytica

CBS News reports:

Facebook said it could face a fine of up to $5 billion as the result of an investigation by the Federal Trade Commission. The agency has been investigating Facebook for possible privacy violations, but has not announced any findings yet.

The company set aside $3 billion in its quarterly earnings report Wednesday as a contingency against the possible penalty.

The FTC has been looking into Facebook’s involvement with the data-mining firm Cambridge Analytica scandal since last March. That company accessed the data of as many as 87 million Facebook users without their consent.