Facebook, back in 2016, a data mining and analytics firm named "Cambridge Analytica" misused Facebook user data. The misuse of data ended up influencing lots of voters in the 2016 US presidential elections. Then, in March 2018, Mark Zuckerberg then came out of his silence. He then provided a statement about the scandal between Facebook and Cambridge Analytica.
Zuckerberg then listed a timeline of events. These included the 2013 data breach of a personality quiz app that collected millions of peoples sensitive information. In 2015 Aleksander Kogan, who created the quiz app, shared the user data with Cambridge Analytica without user consent. Facebook then deleted the quiz app from Facebook right off the bat. Facebook demanded formal confirmation that Cambridge Analytica and Aleksander Kogan had deleted all of the data they got and misused.
Now, after a very long negotiation process, Facebook has now agreed to pay a hefty $5 billion dollar fine to the US Federal Trade Commission (FTC.) This enquiry started after the scandal from last year because Facebook could not protect the data from third-parties.
The company is currently reviewing its systems, looking at issues related to the Facebook privacy leaks. They have stated that they are going to "work swiftly to address them" when issues are uncovered. Facebook will also monitor abuse more diligently. The company will need developers to be accountable for the way that they use data and comply with Facebook policies.
"Transparency and accountability" will be the new driving factors of the company from now on. There will be quarterly certifications making sure that the privacy controls are working as they should be. There will be meetings between Facebook's new board of directors quarterly to make sure that they are living up to their commitments. This new committee will have an independent privacy assessor who will tell them where to improve.
As well as this, Facebook has also agreed to pay an additional $100 million to the US Securities Exchange Commission. This is because of Facebook for failing to say enough about the data abuse with Cambridge Analytica.
Hopefully, there will be a lot fewer privacy leaks from Facebook as we know how many major ones have happened in the past as they're aiming to be more secure now. Hopefully.