Facebook Users Care Less About Privacy Than Regulators
Friday, April 26, 2019, 7:18 AM
Facebook Inc is preparing for a record-setting fine from U.S. regulators over privacy issues, but Wall Street shrugged at the looming penalty after the company added users and trounced profit expectations for the first quarter. It has been just over a year since Facebook's improper data sharing with political consultancy Cambridge Analytica launched probes on both sides of the Atlantic.
Facebook says the FTC privacy inquiry could cost as much as $5 billion
Thursday, April 25, 2019, 9:06 AM
Facebook took $3 billion charge due to Federal Trade Commission's inquiry into its business, the company disclosed in its first-quarter 2019 earnings report. Facebook estimated the final charge could be as much as $5 billion for the company. "The matter remains unresolved, and there can be no assurance as to timing or the terms of any final outcome," the company wrote in its release.
CBI Again Writes To Facebook, Cambridge Analytica Over Alleged Data Theft
Thursday, March 14, 2019, 7:50 AM
The Central Bureau Of Investigation, not satisfied with the response in alleged theft of personal data of Indians from Facebook, has sought more information from Facebook and Cambridge Analytica, officials said today. Based on the inputs received from the Ministry of Information and Technology on the alleged data theft, a preliminary inquiry was initiated by the investigative agency last year.