Facebook Inc (FB.O) chief executive Mark Zuckerberg will be grilled by lawmakers over the company’s plan to launch a digital currency and efforts to prevent foreign election interference when he appears before a Congressional panel on Wednesday.
The U.S. Federal Trade Commission imposed a five billion dollar fine on the social media Facebook for violations of privacy, the agency has said.In a statement said that the punishment is the highest against a company for affecting users, and is 20 times more than any penalty of its kind worldwide.
Facebook boss Mark Zuckerberg apologised to European Union lawmakers on Tuesday for a massive data leak, in his latest attempt to draw a line under a scandal that has rocked the world’s biggest social media network.
Most of Facebook’s U.S. users have remained loyal to the social network despite revelations that a political consultancy collected information about millions of accounts without owners’ permission, a Reuters/Ipsos poll released on Sunday showed.
Facebook said it removed the accounts and pages because the Internet Research Agency had lied about its identity in creating accounts, including some that purported to be American around the election.
Tech companies frequently chase profits at the expense of doing the right thing. The player currently at the center of the 2016 election story is Cambridge Analytica, the shadowy and unscrupulous conservative political consulting firm. With the cooperation or acquiescence of Facebook, Cambridge Analytica exploited the personal data of millions of people to boost Donald Trump’s candidacy.
Facebook Inc (FB.O) has adjusted privacy settings to give users more control over their information in a few taps, it said on Wednesday, after an outcry over a whistleblower’s allegations that members’ data was used to sway the 2016 U.S. election.
It put all the settings on one page and made it easier to change and more straightforward to stop apps using data. Until now changing settings had been complex, spread over at least 20 screens, which had frustrated users.
Anyone tempted to #DeleteFacebook after the personal data of millions of users fell into the hands of a political consultancy is still likely to be monitored by the social network, which tracks nearly 30 percent of global website traffic.
And Google (GOOGL.O), in various guises, shadows 64 percent of all web-browsing worldwide, a recent study (www.ghostery.com/lp/study) of 200,000 German users by Cliqz, using its anti-tracking product Ghostery, said.
Facebook pages for Tesla and SpaceX disappeared Friday after CEO Elon Musk got dared to delete them on Twitter.
Mark Zuckerberg is finally breaking his silence five days after a data scandal engulfed Facebook.