Reported Monday June 5, 'Microsoft To Pay $20M Penalty For Illegally Collecting Kids' Data On Xbox' - The Hacker News
Portfolio Pulse from Benzinga Newsdesk
Microsoft has agreed to pay a $20 million penalty to settle FTC charges for illegally collecting and retaining children's data on its Xbox console without parental consent. The proposed settlement requires Microsoft to update its account creation process for children and extend privacy protections to third-party gaming publishers.
June 07, 2023 | 1:26 pm
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Microsoft faces a $20 million penalty for illegally collecting children's data on Xbox, which may negatively impact its reputation and potentially affect its stock price.
Microsoft's agreement to pay a $20 million penalty for illegally collecting children's data on Xbox may negatively impact its reputation among consumers and investors. This could lead to a short-term decline in its stock price, as investors may perceive the company as less trustworthy and more prone to regulatory scrutiny.
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