- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2019-07-24T20:16:00
The FTC hit Facebook with a ground-breaking $5 billion penalty for privacy violations, but the bigger takeaway for CCOs is the unprecedented new privacy and corporate governance obligations the company must implement.
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Facebook violated a 2020 data privacy order that mandated enhanced privacy controls for users, the Federal Trade Commission alleged, recommending stricter controls be imposed on the social media giant.
Meta, the parent company of Facebook, agreed to pay $725 million to settle a class-action lawsuit accusing the social media giant of selling data to third parties without users’ consent.
Facebook will pay $6.8 million in fines and penalties to settle claims it shared private information regarding 24 million Canadian customers with third parties over six years, despite promising users it was not doing so.
Michael Macko, deputy director of enforcement at the California Privacy Protection Agency, described priorities for the agency now and in the near future during a recent board meeting.
Eight large companies, including Mastercard and JPMorgan Chase, have been ordered by the Federal Trade Commission to provide detailed reports about their possibly secret use of artificial intelligence to track customers and use the information to set prices.
Facial recognition company Clearview AI reached a preliminary settlement in a class action lawsuit alleging it violated the Illinois Biometric Privacy Act, with the company agreeing to compensate victims with stake in the company.
