Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Facebook fined by Canada competition watchdog after privacy probe

Published 05/19/2020, 12:13 PM
Updated 05/19/2020, 12:15 PM
© Reuters. FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration

(Reuters) - Canada's competition watchdog said on Tuesday it had fined Facebook Inc (O:FB) C$9 million ($6.5 million) after an investigation found the social network made "misleading" claims about personal information of Canadians on Facebook and Messenger.

The Competition Bureau said it found that Facebook's privacy claims were not consistent with the way it shared personal data of users with some third-party developers.

"Although we do not agree with the Commissioner's conclusions, we are resolving this matter by entering into a consent agreement and not contesting the conclusions for the purposes of this agreement," a Facebook spokesperson said.

The world's largest social network has faced broad criticism from lawmakers and regulators over its privacy practices. It agreed to pay a record $5 billion fine last year to settle a U.S. Federal Trade Commission data privacy probe.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.