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Tag Archives for " FTC "

FTC Seeks Comment on Proposed Amendments to Safeguards and Privacy Rules

The Federal Trade Commission is seeking comment on proposed amendments to two rules that protect the privacy and security of customer information held by financial institutions.

The Safeguards Rule, which went into effect in 2003, requires a financial institution to develop, implement, and maintain a comprehensive information security program. The Privacy Rule, which went into effect in 2000, requires a financial institution to inform customers about its information-sharing practices and allow customers to opt out of having their information shared with certain third parties.

Source: FTC Seeks Comment on Proposed Amendments to Safeguards and Privacy Rules | Federal Trade Commission

FTC Hits TikTok With Record $5.7 Million Fine Over Children’s Privacy

The company will pay $5.7 million to settle allegations that the social media app formerly known as Musical.ly illegally collected information from children under 13.

TikTok must also comply with the Children’s Online Privacy Protection Act, or COPPA, going forward and take down any videos uploaded by users under 13.

The FTC’s complaint alleges that Musical.ly violated COPPA by failing to require parental consent for users under 13, neglecting to notify parents about how the app collected personal information on underage users, and not permitting parents to request to have their children’s data deleted.

Source: FTC Hits TikTok With Record $5.7 Million Fine Over Children’s Privacy | WIRED

Facebook Is about to Get a Massive Fine. It Probably Won’t Change Anything

The U.S. government will hit Facebook with a record-breaking multibillion-dollar fine over privacy violations.

Yet experts warn that despite the reported size of the penalty levied by the Federal Trade Commission, without legal restrictions on how Facebook collects and processes data the impact will be limited.

Full article: Facebook Is about to Be Hit with a Massive Fine. It Probably Won’t Change Anything. – VICE

Facebook faces multibillion FTC fine over Cambridge Analytica privacy breach

The fallout from the Cambridge Analytica scandal could be about to cost Facebook dear, with reports the social network is in the process of negotiating a multibillion-dollar settlement with the US Federal Trade Commission (FTC) over privacy lapses.

Full article: Facebook faces multibillion FTC fine over Cambridge Analytica privacy breach | The Drum

Facebook’s Privacy Lapses May Result in Record Fine

Facebook may be facing the biggest fine ever imposed by the U.S. Federal Trade Commission for privacy violations that breached a commitment to protect the personal information of its social network’s 2.2 billion users.

Source: Report: Facebook’s Privacy Lapses May Result in Record Fine | SecurityWeek.Com

Facebook Data Scandals Stoke Criticism That a Privacy Watchdog Too Rarely Bites

Lawmakers, consumer advocates and even former commission officials were clamoring for tough action against Facebook, arguing that it had violated an earlier F.T.C. consent decree barring it from misleading users about how their information was shared.

But the enforcement official, James A. Kohm, took a different view. In a previously undisclosed memo in March, Mr. Kohm — echoing Facebook’s own argument — cautioned that Facebook was not responsible for the consulting firm’s reported abuses.

Full article: Facebook Data Scandals Stoke Criticism That a Privacy Watchdog Too Rarely Bites – The New York Times

Why the FTC is Taking a New Look at Facebook Privacy

After a yearlong string of news reports that have called Facebook’s data-sharing practices into question, federal regulators are taking a hard look at how the social media company handles the personal information of its users.

Full article: Why the F.T.C. Is Taking a New Look at Facebook Privacy – The New York Times

US Draft Bill Imposes Steep Penalties and Expands FTC’s Authority to Regulate Privacy

On November 1, 2018, Senator Ron Wyden (D-Ore.) released a draft bill, the Consumer Data Protection Act , that seeks to “empower consumers to control their personal information.” The draft bill imposes heavy penalties on organizations and their executives, and would require senior executives of companies with more than one billion dollars per year of revenue or data on more than 50 million consumers to file annual data reports with the Federal Trade Commission.

Full article: Draft Bill Imposes Steep Penalties, Expands FTC’s Authority to Regulate Privacy

EU-U.S. Privacy Shield Framework Joint Annual Review 2.0

The Federal Trade Commission (FTC) announced several enforcement actions in late 2017, on the eve of the first annual joint EU-U.S. review of the Privacy Shield Framework. Now the second annual review of the EU-U.S. Privacy Shield Framework is underway, and the FTC has announced several new enforcement actions, which are meant to highlight the importance of the framework and reaffirm the U.S.’s commitment to strong privacy enforcement.

Full article: EU-U.S. Privacy Shield Framework Joint Annual Review 2.0

FTC’s Privacy Shield Enforcement Actions Show Broader Enforcement Lens

On September 27, the Federal Trade Commission (FTC) announced proposed settlement agreements with four companies it alleges violated Section 5 of the FTC Act by misrepresenting their certification status and compliance with the EU-U.S. Privacy Shield. This latest set of enforcement actions brings the FTC’s Privacy Shield related enforcement to settlements with eight defendants since the framework was adopted in July 2016.

Source: FTC’s Privacy Shield Enforcement Actions Show Broader Enforcement Lens

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