Search engine giant Google and its subsidiary YouTube to pay a record sum for sharing illegally collected personal information from children without their parents' consent.
Three Republican commissioners voted for the fine while two Democrats opposed it, a clear sign that the restrictions on Facebook don't go as far as critics and privacy advocates had hoped for.
US regulators have approved a $5 billion penalty to be levied on Facebook to settle a probe into the social network's privacy and data protection lapses, the Wall Street Journal reported.
Social media giant hopes to offer unbanked consumers access to financial services for the first time but consumer privacy concerns or regulatory barriers may present significant hurdles.
Facebook said it may have "unintentionally uploaded" email contacts of up to 1.5 million new users since May 2016, adding that the "contacts were not shared with anyone and we are deleting them."
The one-time charge slashed Facebook's first-quarter net income considerably, although revenue grew by 25 percent in the period. The FTC has been looking into whether Facebook broke its own 2011 agreement promising to protect user privacy.
Facebook has been hit by a number of privacy-related issues recently, including a glitch that exposed passwords of millions of users stored in readable format within its internal systems to its employees.
“By updating the rules for the Internet, we can preserve what’s best about it - the freedom for people to express themselves and for entrepreneurs to build new things - while also protecting society from broader harms,” Zuckerberg wrote.
Security blog KrebsOnSecurity says some 600 million Facebook users may have had their passwords stored in plain text.
EU antitrust regulators have slapped Google’s Alphabet with a $1.69 billion fine for blocking rival online search advertisers. This makes it the company’s third penalty in two years.
A New York Times investigation says private messages and details about users' friends were made available to third parties - and that some of the data-sharing deals were still active this year.
Lawmakers leading the probe into the Cambridge Analytica data scandal seize confidential documents believed to include data about Facebook's privacy controls.
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