#facebook sets aside $3 billion ahead of record FTC fine over privacy violations

Tech

Facebook’s financial success continues unabated in the face of countless security and privacy scandals, including a potential record-setting Federal Trade Commission fine. The fine, the potential amount of which was first reported by The Washington Post in February, is related mostly to the Cambridge Analytica scandal revealed in March of last year, as well as the seemingly never-ending series of subsequent breaches and leaks that have dogged Facebook in the months since.

The company posted first-quarter earnings today for 2019, highlighting its continued monthly and daily active user increases and a 26 percent increase in year over year sales, up to $15.1 billion and head of Wall Street expectations. But Facebook also says it is…

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