Mark Zuckerberg Will Take Personal Responsibilities For Facebook's Privacy Issues

Mark Zuckerberg, will take personal responsibility for certifying Facebook is complying with federal consumer privacy rules under a settlement worth of $5 billion with the Federal Trade Commission, which may be unveiled yesterday, according to a Tuesday report from the Wall Street Journal.

Plus, the social giant is scheduled to report its earnings for the second quarter.

According to the deal, Facebook CEO Mark Zuckerberg will have to state each quarter that the company is following the terms in the settlement, as reported by the Journal, based on a source familiar with the matter. The report also said that the certification will be based on the personal knowledge of Zuckerberg.

The social giant refused to comment while the Federal Trade Commission did not respond immediately to a comment request.

There have been rumors around the settlement over the past months, and the company has already put aside the money for paying the fine. With this, Facebook will make a new record regarding fines against a tech firm by the Federal Trade Commission. Back in 2012, the FTC fined Google $22.5 million, which had been the largest amount until now.

FTC’s investigation began after the Cambridge Analytica scandal, in which the UK consultant company harvested personal information from as many as 87 million Facebook users without consent.

The investigation was meant to find out if the Cambridge Analytica data breach violated a legal agreement that Facebook previously signed with the commission.