The U.S. Federal Trade Commission's fine this week of Facebook for $5 billion is the largest ever global enforcement fine for privacy violations, and according to the IAPP Westin Research Center, is more than twice the total number of global privacy and data security regulatory fines in history. The cumulative global fines estimate is based on a historical review of fines and settlements by the FTC, U.S. Securities & Exchange Commission, and other U.S. agency enforcement bodies, U.S. state attorneys general joint settlements, and fines enforced by European data protection authorities. The aforementioned bodies constitute the primary global privacy and security fining activity and sum to less than $2 billion. The estimate does not include private-action settlements or damages.
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