Facebook Regulatory Fines start from 3 to 5 Billion USD

Published 25 Apr, 2019

Not to Dwell on this point, but once again we see the environment in the market demonstrating that Data is a Liability and not an Asset.

1. German Data Protection Authority recently ruled that Facebook's Custom Audience tool is ILLEGAL without explicit user consent. German Data Protection Agencies (DPAs) are organized between the 16 federal states and the federal government. DPAs in other European countries have also expressed interest in the court’s decision, “and asked us for the basis of our prohibition of using Custom Audiences. So far we only received encouraging feedback. From our perspective it actually is a very clear matter anyhow.“ (Kristin Benedikt, head of the internet division at the Bavarian Data Protection Authority).

2. As sated in 1st quarter earnings for 2019, Facebook stated on Wednesday that it expected to be fined up to $5 billion by the Federal Trade Commission for privacy violations. The penalty would be a record by the agency against a technology company and a sign that the United States was willing to punish big tech companies.

OptiMargin's practice of avoiding user data (aka 'data celibacy') altogether might have seemed extreme at first, and outlier in standard operating practice by software as a service companies; however in light of current regulatory environment, it stands out as the safe and customer friendly way to move forward