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Facebook hit with a record-setting $5 billion fine from the FTC for violating the privacy of its users and mishandling their data, surprise, surprise. The social media giant has since agreed to implement new oversight measures but there are some questions about whether federal regulators should have done more to protect consumers like fine Mike -- Mark Zuckerberg -- excuse me, personally, and limited his authority potentially. Fox Business correspondent Kristina Partsinevelos has THE STORY tonight. Kristina? Well, unfortunately, that's not the case. Mark Zuckerberg is not being held personally liable but Facebook does have to do a few things now that they are binded to this 20-year settlement with the FTC. They are going to have to create an oversight committee. They are going, Zuckerberg himself, that you are seeing on your screen, he will have to personally create this quarterly report showing that they are complying with privacy rules. They will have to be very specific, like they can't use your phone number to advertise. They have to explain what they are doing with facial recognition, but most importantly, though, he is not personally liable. And all this, stems back to last year.
Maybe you remember that Cambridge Analytica scandal that happened where they got millions of people's users' information without consent. That is why the Federal Trade Commission went after Facebook for this issue. But you have a lot of Democratic policymakers that are angry with this $5 billion fine. That's peanuts for Facebook, it's like a slap on the wrist and these guys are not held -- guys, I mean, these executives are not held accountable. And since we're talk about regulation, Facebook is still being scrutinized because also you have the Department of Justice that announced that they're gonna be launching an antitrust review of big technology. They weren't specific on the company names but some that you're seeing on your screen, Facebook, Google, Amazon, Apple, could be scrutinized in terms of whether they engaged in monopolistic practices and if they hurt consumers from entering the market. So, overall, what we know from these two stories is that Washington is scrutinizing big technology. Back to you. Yeah, here they come. Kristina, thank you very much.
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