Facebook To Face 5Bn Dollar Fine—The Largest Fine Till Date
The year is for the humiliation of Facebook and that is turning up in the first three months of the fiscal year. The first time was when Germany fined the giant social media company. The second time was when France passed the GAFA act and imposed a 3% tax on the revenue generated from France. The biggest blow among all remained today when US FTC fined Facebook and that too with an amount that is a legendary figure for any tech company in the world.
The fine of 5 billion dollars that has been imposed on Facebook is suggested to be well known to Facebook and that is the best part of the drama. The case is of mishandling data of the users and the answer is that Facebook was ready for the fine. Doesn’t that sound fishy? There was hot news that near to 87 million user’s data has been accessed during the presidential election the last time, it happened and since then the trauma existed. Is this fine related to that? And is that the reason why Facebook CEO Zuckerberg was quite well prepared for the event?
However, this story is nowhere running, as the provocation is in the other dimension. Facebook made an annual income of 50 to 65 billion dollars between this year and the previous year and out of that only 5 billion dollar’s fine for such a critical issue is not even a tight slap on the face, according to the experts. Some of the experts do believe that this punishment to Facebook has remained a casual token, as this fine would not have even shaken the company, where the crime that has been done by them would have been accurately punished, if the company operation would have been banned for a year or even more.