FTC approves record $5B fine for Facebook

At $5 billion, the fine the U.S. Federal Trade Commission is about to levy on Facebook is by far the largest it’s given to a technology company, easily eclipsing the second largest, $22 million for Google in 2012.

The long-expected punishment, which Facebook is well prepared for, is unlikely to make a dent in the social media giant’s deep pockets. But it will also likely saddle the company with additional restrictions and another lengthy stretch of strict scrutiny.

Multiple news reports on Friday said the FTC has voted to fine Facebook for privacy violations and mishandling user data. Most of them cited an unnamed person familiar with the matter.