Last week, I posted in “Quantum Teleportation & Financial Trading” that the effect, which Einstein called “Spooky Action at a Distance,” might lead to faster-than-light communication of data. The subtle part I missed is that while the distant entangled particle mirrors the quantum state, the state itself can not be utilized without context. As you might now guess, the context must be communicated over traditional data channels at or below the speed of light, which means that faster-than-light communication is not possible. 

If you wish to understand the specifics, Wikipedia has done an excellent job at explaining this in its article on “Quantum Teleportation,” and I doubt I could do it any better.