Federal Trade Commission(FTC) Will fines on Twitter $250 million for misusing emails & phone numbers.
Twitter said the Federal Trade Commission (FTC) could soon penalize Twitter up to $250 million for misusing the user’s data like phone numbers and e-mail addresses. Potential fines will be levied for violating Twitter’s 2011 agreement with the Federal Trade Commission to prevent users from being further misled about how it shields their private data.
During 2013 and 2019, Twitter used phone numbers and email addresses providing “for security and safety purposes” for target ads.
Twitter speaks that the commission referred a draft complaint on July 28th telling assumed violations of the 2011 contract.
Twitter guesses it could be fined anywhere from $150 million to $250 million, Already set aside $150 million in anticipation of fines. And there can be no word about the timing or the result, Twitter wrote in its 10-Q filing with the Securities and Exchange Commission.
A spokesperson for Twitter says the company “comprised projected range for settlement” in the 10-Q filed today because the complaint was received after its quarterly results were submitted on July 23rd. A spokesman for the FTC confirmed that the agency has an open investigation of Twitter.
FTC spokesperson confirmed
An FTC spokesperson confirmed this, that the agency has an open Twitter investigation.