The $US5 billion penalty against Facebook announced by the US Federal Trade Commission (FTC) is a globally significant order that demonstrates the concerns of privacy regulators around the world.
The fine is supported by requirements for Facebook to embed privacy protections into its business and reflects heightened community expectations about the protection of their privacy.
This order reinforces the need for corporate entities to be transparent and accountable for the way they handle consumers’ personal information.
The Office of the Australian Information Commissioner (OAIC) is continuing its investigation into the company’s handling of Australians’ personal information, including engaging with our international counterparts.
We are committed to ensuring that consumers are given clear and accurate information that is easily understood and allows them to make informed choices about the use and disclosure of their personal information.
The Australian Government has announced it will give the OAIC new powers to regulate digital platforms. These increased penalties and a new binding code of privacy practice will ensure that digital platforms trading in personal information in Australia are held to the highest standards.
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