At issue is whether Facebook is in violation of a 2011 agreement with the FTC promising to protect user privacy. — Bloomberg
More A report says Facebook and the United States Federal Trade Commission (FTC) are negotiating a "multi-billion dollar" fine for the social network's privacy lapses.
The Washington Post said that the fine would be the largest ever imposed on a tech company.
A Facebook data breach could result in a multibillion-dollar fine by the Federal Trade Commission, but may settle the agency's investigation into the privacy practices of the social media giant, the Washington Post reported Thursday.
It would be the largest fine the agency has ever imposed on a technology company. Still, the two sides have not yet agreed on an exact amount, the Post article said, which sourced two people familiar with the probe.
Facebook has expressed concerns with the FTC demands. If talks break down, the FTC could take the matter to courts. The company confirmed it is in discussions with the agency over the Facebook data breach. But it declined to comment further, the story said.
Facebook Data Breach Under Scrutiny
Facebook's handling of user data has been under intense scrutiny since February, when it was revealed political consultant Cambridge Analytica wrongfully accessed personal data from 87 million Facebook users .
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