Facebook Runs UK, US Newspaper Ads Apologising for Data Scandal

Facebook shares plunge as FTC launches probe into privacy practices

Facebook Inc (FB.O) shares fell as much as 6.5 percent on Monday after the main USA consumer protection regulator said it was investigating how the social network allowed data of 50 million users to get into the hands of a political consultancy.

The Federal Trade Commission has officially opened an investigation into Facebook's privacy practices. Facebook reached a settlement with the FTC in 2011 offering privacy assurances, though the FTC's probe may extend to Facebook's compliance with U.S. -EU principles for transferring data. They say the data is used "to improve people's experience across Facebook" by helping to connect with others.

Germany's justice minister says she wants closer oversight of companies such as Facebook, following a meeting with executives about the abuse of users' private data.

Last week, a U.K. parliamentary media committee summoned CEO Mark Zuckerberg to testify about how Facebook uses data, while U.K. Information Commissioner Elizabeth Denham is investigating how Cambridge Analytica got the data. "We will need to monitor companies such as Facebook much more strictly in future and also punish breaches of data protection strongly, swiftly and painfully".

That data analytics firm tied to the Donald Trump presidential campaign accessed 50 million Facebook users' information without those users' knowledge, allegedly in an effort to influence voters.

"The FTC takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook".

Facebook chief Mark Zuckerberg took out full-page ads in nine major British and USA newspapers on Sunday to apologise for a huge data privacy scandal.

These files, which Facebook enables users to download freely, confirm the company has a wide range of information available on people, beyond the obvious content that is visible on someone's profile.

"Companies who have settled previous FTC actions must also comply with FTC order provisions imposing privacy and data security requirements", FTC Bureau of Consumer Protection Acting Dir.

Zuckerberg said he learned two years later from journalists at the Guardian that the Cambridge researcher had shared the data from his app with Cambridge Analytica, a move that violates Facebook policies.

Facebook's stock, which already took a big hit last week, plunged as a result.

But the fact that we're once again talking about it shows how far our trust in Facebook has fallen.

Related News:

Most liked

Uber Sells Southeast Asian Operations to Rival Grab
Regarding fares, Grab says that nothing will change so if you've been using Grab your trips should still cost about the same. On the other hand, Grab gets to expand on its meal delivery service being merged with Uber Eats .

'Pacific Rim: Uprising' Stronger Overseas, Opens to $150 Million Worldwide
It took six weeks but " Black Panther " has finally been unseated as the top film at the North American box office . Black Panther was knocked off its perch in the United Kingdom box office last week by James Corden's Peter Rabbit .

Google doodle celebrates 45th anniversary of Chipko movement
Today on the 45th anniversary , the Google doodle pays honour to the group of women protesting against the deforestation. The aim of this movement was to raise voice against the rising deforestation for maintaining the ecological balance.

America's oldest gun maker files for bankruptcy as sales decline nationwide
Arms manufacturers had for years ramped up production as gun ownership became a red-hot social, and political flashpoint. Remington has not indicated whether the bankruptcy filing will affect the agreement to replace the parts.

Peskov: allegations against Russian Federation on Skripal case border on banditry
Russian Federation responded by expelling United Kingdom diplomats and shutting down the British Council cultural organisation. We spoke for about half an hour. "He denied he was a traitor", Timoshkov said in an interview with the British broadcaster.

Sun & clouds today; scattered snow showers early Sunday; big warm-up next week
Indianapolis saw temperatures of 55 degrees on Sunday and 60 degrees Monday , while Chicago soared to 57 degrees on Sunday . Saturday looks to be mostly sunny, with a slight chance for snow showers overnight into Sunday , the weather service said.

Trump's lawyer denies intimidating Stormy Daniels
Clifford with financial ruin .) It's about who gets to decide when their stories get told and under what terms. Michael Avenatti told 60 Minutes the reason he took the case was because his client was honest and honorable.

Daniel Bryan's top five moments in WWE
Bryan was out with injuries and it took a long time for WWE medical staff to finally agree with Bryan's personal doctors. The 11-time world champion assured fans on his podcast this week that, sadly, it's never going to happen.

'March for Our Lives' crowd smaller than expected
"Thousands of local demonstrators marched up Congress Avenue Saturday afternoon, as part of the 'March for Our Lives" rally . The spending bill, which President Donald Trump signed on Friday, also includes grants to help schools prevent gun violence.

Former Catalan President arrested in Germany
Police in the northern state of Schleswig-Holstein say that highway police detained Puigdemont at 11:19 a.m. (0919 GMT; 4:19 a.m. He has been resident in self-imposed banishment in Belgium since the independence declaration of Catalonia from Spain .

MI looks to defend against upset in Final Four
Down by 4 to MI in the last 15 seconds, Florida State HC Leonard Hamilton elected to not foul and extend the game. But after trailing 15-10, the Seminoles tied it at 15-15 on a basket by Cofer and a three-pointer by PJ Savoy.

March for our Lives gets underway today in Washington, DC
More than 800 marches are planned in cities across America and dozens of locations overseas to be held at roughly the same time . The new norm at a school in the future is going to be like going to the airport. that's what society has brought us to'.

Donald Trump issues broad ban on transgender people in the military
Transgender persons who require or have undergone gender transition are disqualified from military service. Overall, Mattis contends transgender troops are not conducive to an effective military.

Pa. school district stocks classrooms with rocks to combat school shooters
Dori Bornstein said, "At this point, we have to get creative, we have to protect our kids first and foremost". A parent also told WNEP that the buckets of rocks are "absurd".

Palace urges public to turn lights off on Earth Hour
The idea is to save energy during that hour, while also encouraging people to be more wary about how much electricity they use. This Saturday marks the eleventh Earth Hour .