Just over a week ago, a number of reports detailed how Cambridge Analytica obtained Facebook profile information on over 50 million Facebook users through a researcher that collected the data with an app. Since then, the company has faced hard inquiries from a number of groups including Congress and the UK Parliament. Shareholders, Facebook users, and states have also filed a handful of class action lawsuits against the company while state attorneys general have opened their own probes as well.

"The FTC is firmly and fully committed to using all of its tools to protect the privacy of consumers," Tom Pahl, acting director of the FTC's Bureau of Consumer Protection, said in a statement. "Foremost among these tools is enforcement action against companies that fail to honor their privacy promises, including to comply with Privacy Shield, or that engage in unfair acts that cause substantial injury to consumers in violation of the FTC Act."