Facebook agrees to pay Sh500b fine over privacy

The US Federal Trade Commission (FTC) approved a roughly Sh500 billion ($5 billion) settlement with Facebook Inc this week over its investigation into the social media company’s handling of user data, a source familiar with the situation said last week.

The FTC has been investigating allegations Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica. The probe has focused on whether the data sharing violated a 2011 consent agreement between Facebook and the regulator.