As U.S. lawmakers discuss the future of federal privacy legislation, the Federal Trade Commission (FTC) is taking action now. In the Federal Trade Commissionâ€™s recently released privacy and data security report, the FTC highlights its enforcement and regulatory work for 2018 â€” including matters involving Facebook and PayPal.
The FTCâ€™s settlement with PayPalâ€™s payment service Venmo is particularly relevant to brands and retailers accepting online payments. While Venmo is primarily used for peer-to-peer payments, the FTC settlement is an important reminder why brands and retailers must implement effective privacy practices to protect consumer data â€” even when using online payment portals.
The report also discusses the FTCâ€™s nonpublic investigation into Facebookâ€™s privacy practices, following the Cambridge Analytica scandal.
The FTC’s full report is available here.