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Facebook faces a huge fine. Critics want more.

Facebook said yesterday that it expected the Federal Trade Commission to fine it up to $5 billion for privacy violations, Mike Isaac and Cecilia Kang of the NYT report.

That would be a record penalty for a tech company, way beyond the $22 million Google had to pay in 2012 for misleading statements about online tracking. But it’s in line with recent E.U. punishments, like Google’s $5 billion antitrust fine last year and the $15.3 billion tax evasion penalty given to Apple in 2016.

Both the F.T.C. and Facebook have reasons to celebrate. The regulator looks strong. The tech giant looks accountable, without having to remake its business.

But critics say it’s “a slap on the wrist.” That’s how Representative David Cicilline, the chairman of the House’s antitrust subcommittee, told the NYT he would characterize “a fine in the low billions of dollars.” The F.T.C. “must pursue strong structural remedies and impose managerial accountability” on Facebook, Senator Richard Blumenthal, Democrat of Connecticut, tweeted.