The Federal Trade Commission (FTC) has formally approved a settlement worth $520 million related to violations of the Children’s Online Privacy Protection Act (COPPA). The settlement is one of the largest penalties ever imposed for violations of COPPA, which is aimed at protecting the privacy of children under the age of 13 who use online services.
The settlement was reached with a popular social media platform that allegedly collected personal information from children without obtaining the necessary parental consent, in violation of COPPA. As part of the settlement, the social media platform agreed to pay the $520 million penalty and implement new measures to protect children’s privacy.
In addition to the penalty, the settlement also requires the social media platform to create a system for obtaining parental consent before collecting children’s personal information, as well as implementing new procedures to safeguard that information. The company must also provide regular reports to the FTC detailing its compliance with the settlement’s terms.
The FTC has emphasized the importance of protecting children’s privacy online and has warned that it will continue to aggressively pursue enforcement actions against companies that violate COPPA. This settlement sends a strong message to companies that they must take children’s privacy seriously and comply with the law.
