Facebook agrees to pay £500,000 fine over Cambridge Analytica scandal

Facebook has agreed to pay a 500,000 pound (an equivalent of $644,000) fine for breaches of data protection law related to the harvesting of data by consultancy Cambridge Analytica, Britain’s information rights regulator said on Wednesday. Facebook CEO Mark Zuckerberg has faced questioning by U.S. and EU lawmakers over how the political consultancy obtained the… Read More Facebook agrees to pay £500,000 fine over Cambridge Analytica scandal

WhatsApp files lawsuit against Israeli firm NSO Group for allegedly aiding global hack of mobile phones

WhatsApp sued Israeli surveillance firm NSO Group on Tuesday, accusing it of helping government spies break into the phones of roughly 1,400 users across four continents in a hacking spree whose targets included diplomats, political dissidents, journalists and senior government officials. In a lawsuit filed in federal court in San Francisco, messaging service WhatsApp, which… Read More WhatsApp files lawsuit against Israeli firm NSO Group for allegedly aiding global hack of mobile phones

Major financial companies quit Facebook cryptocurrency project

Facebook Inc’s ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday, as major payment companies including Mastercard and Visa Inc quit the group behind the project. The two companies announced they would leave the association on Friday afternoon, as did EBay Inc, Stripe Inc. and Latin American payments company… Read More Major financial companies quit Facebook cryptocurrency project

Facebook suspends thousands of apps over Cambridge Analytica scandal

Facebook Inc said on Friday it has suspended tens of thousands of apps on the social networking platform, as part of the company’s ongoing app developer investigation it began in March 2018 in response to the Cambridge Analytica row. The suspended apps are associated with about 400 developers, Facebook said, adding that it is not… Read More Facebook suspends thousands of apps over Cambridge Analytica scandal

Facebook introduces tighter rules for U.S. political advertisers ahead of 2020 presidential election

Facebook Inc is tightening its political ad rules in the United States, it said on Wednesday, requiring new disclosures for its site and photo-sharing platform Instagram ahead of the U.S. presidential election in November 2020. The social media giant is introducing a ‘confirmed organization’ label for U.S. political advertisers who show government-issued credentials to demonstrate… Read More Facebook introduces tighter rules for U.S. political advertisers ahead of 2020 presidential election

U.S. regulator approves $5billion settlement in Facebook user data case

The U.S. Federal Trade Commission approved a roughly $5 billion settlement with Facebook Inc this week over its investigation into the social media company’s handling of user data, a source familiar with the situation said on Friday. The FTC has been investigating allegations Facebook inappropriately shared information belonging to 87 million users with the now-defunct… Read More U.S. regulator approves $5billion settlement in Facebook user data case

Facebook set to launch Libra cryptocurrency next year

Facebook Inc plans to launch a cryptocurrency called Libra next year as part of its wider efforts to expand beyond social networking into e-commerce and global payments. Facebook said it has linked with 28 partners to form Libra Association, a Geneva-based entity governing its new digital coin, which it will launch in the first half… Read More Facebook set to launch Libra cryptocurrency next year