FILE PHOTO: A 3-D-printed with Facebook logo is seen in front of binary code in this picture illustration, the 18th of June, 2019 at the latest. REUTERS/dado Ruvic/File Photo
WASHINGTON (Reuters) – The Federal Trade Commission is set to announce on Wednesday that Facebook Inc’s (FB.(O) has agreed to a sweeping settlement of the allegations are dealt with in the privacy of the users, and pay about $5 billion, two people briefed on the matter said.
As part of the settlement, Facebook agreed on the creation of a committee on privacy, and will agree to a new executive, and certifications in the privacy of the users, the people said.
The Washington Post reported on Tuesday that the FTC’s alleged Facebook misled users about the handling of their telephone numbers and the use of two-factor authentication, when used as part of a broad-based complaint, which goes hand in hand with the settlement ends the government on the privacy of the probe, citing two people familiar with the matter.
Two of the people briefed on the matter, confirmed the Post’s report, the FTC does not require Facebook to admit liability as part of the settlement. The plan shall be subject to approval by a federal judge.
As the COMMISSION confirmed in March 2018, it was an investigation into accusations of Facebook inappropriate to share information from the 87 million users, with the now-defunct British political consulting firm in Cambridge Analytica. The probe has focused on the question of whether the sharing of information violated a 2011 consent agreement between Facebook and the supervisor, and then extended to other privacy cases.
A person briefed on the matter, he said, neither the phone number or the two-factor authentication were not a part of the first Cambridge Analytica tube.
Reports David Shepardson in Washington; Additional reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila and Lisa Shumaker