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The U.S. Federal Trade Commission (FTC) on Monday said it filed a lawsuit against Kochava, a location data broker, for collecting and selling precise geolocation data gathered from consumers' mobile devices. The complaint alleges that the U.S. company  amasses  a "wealth of information" about users by purchasing data from other data brokers to sell to its own clients. "Kochava then sells customized data feeds to its clients to, among other purposes, assist in advertising and analyzing foot traffic at stores or other locations," the FTC  said . "Among other categories, Kochava sells timestamped latitude and longitude coordinates showing the location of mobile devices." The Idaho-based company advertises itself as a "real-time data solutions company" and the "largest independent data marketplace for connected devices." It also claims its  Kochava Collective  data marketplace provides "premium data feeds, audience targeting, a

The US Federal Trade Commission and a coalition of 48 state attorneys general on Wednesday filed a pair of sweeping antitrust suits against Facebook, alleging that the company abused its power in the marketplace to neutralize competitors through its acquisitions of Instagram and WhatsApp and depriving users of better privacy-friendly alternatives. "Facebook has engaged in a systematic strategy — including its 2012 acquisition of up-and-coming rival Instagram, its 2014 acquisition of the mobile messaging app WhatsApp, and the imposition of anti-competitive conditions on software developers — to eliminate threats to its monopoly," the FTC  said  in its complaint. A  separate lawsuit  filed by New York Attorney General Letitia James also claimed that in illegally acquiring competitors in a predatory manner, the social media company stripped users of the benefits of competition, limited consumer choices, and their access to rivals with better privacy practices. Specifically,

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The Federal Trade Commission (FTC) today officially confirmed that Facebook has agreed to pay a record-breaking $5 billion fine over privacy violations surrounding the Cambridge Analytica scandal . Besides the multibillion-dollar penalty, the company has also accepted a 20-year-long agreement that enforces it to implement a new organizational framework designed to strengthen its data privacy practices and policies. The agreement requires Facebook to make some major structural changes, as explained below, that will hold the company accountable for the decisions it makes about its users' privacy and information it collects on them. "The order requires Facebook to restructure its approach to privacy from the corporate board-level down, and establishes strong new mechanisms to ensure that Facebook executives are accountable for the decisions they make about privacy and that those decisions are subject to meaningful oversight," the FTC said in a press release . Ac

Equifax, one of the three largest credit-reporting firms in the United States, has to pay up to $700 million in fines to settle a series of state and federal investigations into the massive 2017 data breach that exposed the personal and financial data of nearly 150 million Americans—that's almost half the country. According to an official announcement by the U.S. Federal Trade Commission (FTC) today, Equifax has agreed to pay at least $575 million in fines, but this penalty could rise to up to $700 million depending on the amount of compensation people claim. Up to $425 million of the fines will go to a fund that will provide credit monitoring services to affected customers and compensate anyone who bought such services from the company and paid other related expenses as a result of the breach . Rest $175 million and $100 million will go to civil penalties across 50 states and to the Consumer Financial Protection Bureau (CFPB), respectively. Besides the penalty, the co

After months of negotiations, the United States Federal Trade Commission (FTC) has approved a record $5 billion settlement with Facebook over its privacy investigation into the Cambridge Analytica scandal . The settlement will put an end to a wide-ranging probe that began more than a year ago and centers around the violation of a 2011 agreement Facebook made with the FTC that required Facebook to gain explicit consent from users to share their personal data. The FTC launched an investigation into the social media giant last year after it was revealed that the company allowed Cambridge Analytica access to the personal data of around  87 million Facebook users without their explicit consent. Now, according to a new report published by the Wall Street Journal, the FTC commissioners this week finally voted to approve a $5 billion settlement, with three Republicans voting to approve the deal and two Democrats against it. Facebook anticipated the fine to between $3 billion and