Facebook Plunges After FTC Reveals Probe Into Privacy Practices
by Tyler Durden
ZeroHedge.com
Mon, 03/26/2018
The Federal Trade Commission has confirmed that it has opened a nonpublic probe into Facebook’s privacy practices, saying it’s committed to protecting consumers’ privacy and data and will hold accountable companies that abuse the FTC guidelines.
In a statement, the FTC said it takes “very seriously” recent press reports raising concerns about the data security at the social media giant, according to Bloomberg.
And with that, the public is getting an important early clue into the shape of the federal response to revelations about Facebook’s handling (abuse?) of user data for commercial purposes.
A German minister said Monday that Facebook’s data practices couldn’t be tolerated.
Facebook shares, which plunged into correction territory last week, turned lower on the news.
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