Regulators in the US have approved a fine for Facebook to pay $5bn to settle a data privacy investigation which was started after the Cambridge Analytica scandal last year.
The FTC (Federal Trade Commission) are a US regulator, they have been investigation allegations that political statistic firm, Cambridge Analytica improperly obtained data of up to 87 million Facebook users.
Back in April, Facebook told their investors that they had put enough money aside so the company won't be financially strained after the fine.
However, we still don't know if Facebook will be put on any additional measures, like increased oversight of user privacy or if they will be any consequences for the company's founder and chief exec - Mark Zuckerberg.
The fine amounts to about a quarter of the company's annual profit. Some critics say that the fine is not enough to give the company a wake up call.
What was the Cambridge Analytica scandal again?
Cambridge Analytica was a political consulting firm, based in England that gained access to date of millions of Facebook users to profile US voters and target them with material to try and make them vote for the Trump 2016 presidential campaign.
The data that Cambridge Analytica got access to was through a Facebook quiz. The quiz asked users questions to figure out their personality type.
However, the quiz not only got access to the data of users who played the quiz, but also data from their friends. Facebook says the number of users' data that was improperly shared to Cambridge Analytica was 87 million users.
Cambridge Analytica has surprisingly gone bust.