The United States Federal Trade Commission (FTC) has announced the investigation of how users' data is used and what Facebook does to protect its security. After declaring this announcement, the company's stock fell to more than six percent on Monday.
In a statement, the FTC said, "FTC has taken seriously the issue of growing concern in recent reports on Facebook's privacy practices. Today, the FTC ensures that the organization is investigating an 'open non-public' with this custom. "
In the previous week, FTC expressed its refusal to confirm Facebook's investigation. In 2011, the agreement was signed with ETPC, the world's largest social media. The US government agency, working on consumer protection, has also notified about what it has violated the Facebook, CNBC News.
According to that consent agreement, users will be able to tell and consent to any personal data sharing prior to sharing the specific privacy settings of Facebook users. If it is violated, then Facebook may be fined $ 40,000 for every violation.
Facebook's chief privacy official told the US media, "We are committed to protect people's information. We are giving importance to the opportunity to answer the questions that the FTC may have. "
Five million Facebook user's personal data misbehaves in the campaign of US President, Data Analysis Institute Cambridge Analyst - Since the complaint has increased concerns about data privacy and personal information security concerns. After this scandal, critics and policy makers have been under pressure due to Facebook, which has affected Facebook's share price.
After the news of this scandal, Facebook shares fell below the 13 percent in the last five days. At the time of publication of the news on Monday it was worth 160.06 dollars. In the last 52 weeks, Facebook's highest share price was $ 195.32