US slaps US$5 billion fine, curbs on Facebook over privacy breaches

<p>US regulators today slapped a record US$5 billion (RM20.6 billion) fine on Facebook for privacy violations in a settlement requiring the world&#8217;s biggest social network to &#8220;submit to new restrictions and a modified corporate structure.&#8221;</p> <p>The Federal Trade Commission said the penalty was the largest ever imposed on any company for violating consumers&#8217; privacy and one of the largest penalties ever assessed by the US government for any violation.</p>

Read more.