FTC pondering privacy case against TikTok, Politico reports

The Biden administration is in the process of probing TikTok for “faulty privacy and data security practices,” and may bring a suit or announce a settlement soon, reports Politico’s Josh Sisco, citing people with knowledge of the matter. The Federal Trade Commission is pondering measures against TikTok, and its Beijing-based parent company ByteDance, for misleading “users by denying that individuals in China had access to their data, and also violated a children’s privacy law, according to the people, who were granted anonymity to discuss a confidential matter,” added the Politico story. Publicly traded companies in the social media space include Meta Platforms (META), Pinterest (PINS) and Snap (SNAP).