Facebook faces fines of up to 5 billion dollars

Facebook expects a fine from the US regulatory authorities because of the scandal associated with Cambridge Analytica, in the amount of 3-5 billion dollars, CNBC reported.

Facebook faces fines of up to 5 billion dollars

Facebook faces fines of up to 5 billion dollars

STEPANAKERT, APRIL 25,  ARTSAKHPRESS: “The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome,” the company wrote in its release.

Earlier, Facebook reported the reducing of its profits in the first quarter of 2019 by 51% compared to the same period last year to 2.43 billion dollars. Net sales fell less significantly - by 39% - to 3.3 billion dollars.

This result coincided with the forecast of most American analysts polled by major US news agencies. Experts attributed this reduction to the scandal involving the British consulting company Cambridge Analytica, which illegally used the data of 87 million for campaigning.

Facebook has recognized that the data of 87 million social network users, mainly in the US, were compromised and mistakenly transferred to this company.

According to media reports, Cambridge Analytica, which used data mining technologies to develop strategic communication during election campaigns on the Internet, collaborated with Donald Trump during the election campaign.

Based on the data collected, the researchers evaluated the political preferences of voters and showed them advertising that directly fell into the zone of their interests. The scandal led to the fact that the head of Facebook had to give an answer for what happened in the US Congress.

After that, a number of US departments and the US Congress opened investigations related to the leakage of user data. In particular, the investigation was opened by the US Federal Trade Commission.