US Federal Trade Commission starts investigation of Facebook users’ data leakage

Source : 112 Ukraine

The commission confirms that it’s conducting non-public investigation regarding abidance to privacy rules
10:05, 27 March 2018

Open source

United States Federal Trade Commission started investigation of the data leakage of over 50 million users of Facebook. This was reported by the commission’s press service.

“The FTC is firmly and fully committed to using all of its tools to protect the privacy of consumers. Foremost among these tools is enforcement action against companies that fail to honor their privacy promises, including to comply with Privacy Shield, or that engage in unfair acts that cause substantial injury to consumers in violation of the FTC Act. Companies who have settled previous FTC actions must also comply with FTC order provisions imposing privacy and data security requirements. Accordingly, the FTC takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook. Today, the FTC is confirming that it has an open non-public investigation into these practices,” the message says.

Related: India demands that Cambridge Analytica report possible use of Facebook data of Indian citizens

As it was reported earlier, Facebook's Mark Zuckerberg lost $5.1 billion the day after Cambridge Analytica's data misuse was revealed - nearly 7%, through 1 pm Eastern Time on Monday, erasing $37 billion of market value. The decline had the biggest impact on Mark Zuckerberg, Facebook’s co-founder and CEO, whose net worth fell $5.1 billion, according to Forbes.

Zuckerberg, who owns about 16% of Facebook's shares, is now worth an estimated $69.5 billion, according to Forbes’ real-time rankings of the world’s billionaires. He is currently the seventh-richest person on the planet, down from fifth, after falling behind Zara co-founder Amancio Ortega and Carlos Slim Helu, Mexico’s richest person.

Related: Britain raids company involved in Facebook scandal

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