Facebook discovered the vulnerability three years before the breach but failed to take timely action. The settlement will provide compensation to approximately 311,127 eligible Australians who were impacted. Users must have had an active Facebook account between November 2015 and December 2015 and meet specific criteria to qualify for payment.
Data Breaches are Costly
This case follows a $725 million settlement Meta agreed to pay U.S. users for similar issues, reflecting the company’s ongoing challenges with privacy and data security.
In 2019, Facebook agreed to pay $5 billion to resolve a Federal Trade Commission probe into its privacy practices.
The tech giant also paid $100 million to settle US Securities and Exchange Commission claims that it misled investors about and misused users’ data.
