'Amazon's Ring To Pay FTC $5.8M Over Privacy Violations' - CNBC
Portfolio Pulse from Happy Mohamed
Amazon's Ring doorbell unit will pay the Federal Trade Commission (FTC) $5.8 million in a settlement over privacy violations. The FTC alleged that Ring gave third-party contractors access to customer videos, compromising customer information.
May 31, 2023 | 6:48 pm
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Amazon's Ring doorbell unit will pay $5.8 million to the FTC over privacy violations, potentially affecting Amazon's reputation in the smart home and home security categories.
The settlement over privacy violations may negatively impact Amazon's reputation in the smart home and home security categories. As Ring is a subsidiary of Amazon, this news could lead to increased scrutiny and potential loss of consumer trust, which may result in a short-term negative impact on Amazon's stock price.
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IMPORTANCE 60
RELEVANCE 100