Facebook expecting $5bn fine for privacy violations

Facebook has said that it expects to be fined up to $5bn 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. The social network disclosed the amount in its quarterly financial results on Wednesday, saying it estimated a one-time charge of $3bn to $5bn in connection with an "ongoing inquiry" by the commission. Facebook added that "the matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome". We'll tell you what's true.