Twitter acknowledged it could pay up to $250 million to the U.S. Federal Trade Commission for directing targeted advertising to users based off data submitted for security purposes. In a financial filing submitted to the Securities and Exchange Commission, Twitter estimated it would pay between $150 million and $250 million to the FTC. The penalty comes after the FTC drafted a complaint on July 28 alleging that Twitter used “phone number and/or email address data provided for safety and security purposes for targeted advertising during periods between 2013 and 2019,” Twitter said in the SEC filing. The complaint suggests Twitter violated a 2011 FTC consent order that required the company to establish a data security program, which required them to be transparent with users about the security and privacy measures in place. In October 2019, the company said it used email addresses and phone numbers to improve targeted advertising efforts. […]
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