Facebook shares fell on Tuesday after it emerged that the Federal Bureau of Investigation has opened an investigation into whether the social network hid details of the Cambridge Analytica data harvesting scandal from the public. Almost $12bn (£9.1bn) was wiped from the social network’s value on Tuesday, a 2pc share price fall, after it emerged that several government agencies had joined an investigation into the company. Officials will examine how it was possible for 71m American users to have their personal information mined and handed over to a political consultancy that included Republican candidates and president-to-be Donald Trump among its clients. The FBI, the Securities and Exchange... Register or log in to view this and other Technology Intelligence articles. It's free and easy to do. Access brilliant stories, features and analysis Sign up to our exclusive Technology Intelligence daily newsletter Become part of our … [Read more...] about Facebook shares dip after FBI probes Cambridge Analytica controversy
Cambridge analytica
Facebook probed by US federal agencies like the SEC and FBI over its role in the Cambridge Analytica scandal
Already under investigation by the Federal Trade Commission, Facebook is now facing fresh scrutiny from other US federal bodies over how much it knew about the Cambridge Analytica incident. The social media giant is cooperating with the Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI) and the US justice department on a probe into its review of the data sharing agreement between itself and Cambridge Analytica, first reported by Washington Post late last night. The investigation centres on what Facebook knew in 2015, at the time the company learned about Cambridge Analytica's improper access to the data of tens of millions of users, and why it didn't inform those users or investors sooner. Read more: Facebook has yet to convince MPs in its response to Cambridge Analytica Its share price fell by 1.44 per cent in after-hours trading yesterday, despite a rise of 1.6 per cent during the day. As markets opened this morning, Facebook's share price is up by … [Read more...] about Facebook probed by US federal agencies like the SEC and FBI over its role in the Cambridge Analytica scandal
Facebook has yet to convince MPs in its response to Cambridge Analytica
Facebook "continues to be evasive" over its handling of the Cambridge Analytica scandal and its role within it, said UK MPs this morning. In response to a letter from Facebook to the Digital, Culture, Media and Sport (DCMS) committee which was published late last night, the committee's chair Damian Collins said that the social media giant is beginning to display a pattern. In these responses, Facebook continue to display a pattern of evasive behaviour – a pattern which has emerged over the course of our inquiry. In some cases, these answers even show inconsistencies in their evidence to us. The lack of public scrutiny of social media and tech companies like Facebook, considering their profound influence over our lives, is a matter of serious concern for this committee. Collins added that these concerns will be addressed as part of the committee's interim report, due to be published later this year. Facebook first responded to a former version of the DCMS inquiry in March 2017, … [Read more...] about Facebook has yet to convince MPs in its response to Cambridge Analytica
Facebook still evasive over Cambridge Analytica and fake news
LONDON (Reuters) - Facebook (FB.O) is continuing to be evasive in its answers to a British parliamentary committee examining a scandal over misuse of the social media company’s data by Cambridge Analytica, the committee’s chair said on Friday. FILE PHOTO: A 3D-printed Facebook like button is seen in front of the Facebook logo, in this illustration taken October 25, 2017. REUTERS/Dado Ruvic/Illustration/File Photo Britain’s digital and media committee is examining fake news, and what the consultancy, employed by Donald Trump’s 2016 U.S. presidential campaign, did with the Facebook data, which was improperly obtained. Cambridge Analytica said it deleted the data when asked and did not use it in Trump’s campaign. It also denies doing paid work on the campaign for Brexit. “Facebook continue to display a pattern of evasive behaviour – a pattern which has emerged over the course of our inquiry”, chair Damian Collins said in response … [Read more...] about Facebook still evasive over Cambridge Analytica and fake news
Former Cambridge Analytica employee says “there were more” apps that collected user data
A former official at Cambridge Analytica is sharing what she considers some of the data firm's questionable practices. Brittany Kaiser worked at the British-based company from 2014 until this January before the company shut down. Cambridge Analytica processed data for several Republican clients including Donald Trump's presidential campaign. It drew attention when it was revealed the company harvested data from 87 million unknowing Facebook users, and cameras caught its CEO discussing underhanded tactics like bribery and sex stings. Kaiser said she wants to speak out now about what she sees as the "Wild West" attitude of data gathering. "Cambridge Analytica has been in the news because of the use of Facebook data, 87 million Facebook profiles. Could it be more than what we know that Cambridge Analytica had access to in terms of Facebook user data?" "CBS This Morning" co-host John Dickerson asked. "In terms of what Cambridge Analytica had access to, I know for a fact that there … [Read more...] about Former Cambridge Analytica employee says “there were more” apps that collected user data