After several decades of running Facebook productively, now Mark is under being questioned for the things he had done. Yes, the CEO of Facebook Mark Zuckerberg is in the position to answer several questions by Federal regulators about the data disclosure of users. A quite crucial matter it is!
Mark has to settle the case with the Federal Trade Commission along with giving 5 million dollars as a penalty, as he is running a huge social media company. Further SEC reported that Facebook has to settle the case about the issue that user data is getting misused by paying 100 million dollars to Securities and Exchange Commission.
Mark Zuckerberg is needed to deliver quarter compliance reports to the federal regulators and the board of director of Facebook directly, as Mark agreed to this with FTC. It would get more difficult if any of the designated compliance officers of Facebook infringes the agreement. It could get under criminal and civil penalties.
The head of FTC enforcement unit; James Kohm has clearly told that the founder of Facebook get under consideration in a potential way that there is no way for him to bury his head in the sand.
We get to know from the source that the investigators of FTC elaborated that Facebook had disobeyed the terms settled at 2011. Actually, their settlement was to secure the data of users from being shared with the third party.
The two activities Facebook did which simply mean lying to its users are;
The first action is that Facebook asks for the phone numbers of users by claiming that it is required for the verification of users and for their password resetting. Of course, millions of people trusted Facebook and provided their numbers. The company used those numbers for advertising reasons, which is a disobeying act.
The second action is that Facebook tracks more than 60 million users via face recognition even without the proper accord. It is an obligatory act for Facebook to notify the people and let them get access to any option for the removal of the collected data.
The agreement of FTC is not just for the regulators, in actual terms it is for rebuilding the trust with the users.
Mark also gave statements for his actions in which he told people that, he is obliged for the privacy protection of Facebook users. He further told, he is already working for the acts he is responsible for, but now his mind is to begin a new and innovative standard of his industry which means Facebook.
For delivering the message to several other tech companies and making them alert, the FTC added more 5 billion dollars which are really for disincentive, as the damage to data privacy is not a big issue; it’s quite less than oil spill harm.
The possibility of settlement is by experiencing the enhanced calls for regulations at the particular time of analyzing, certainly for the big-name companies like Amazon, Google, and Facebook.