Tag: Mark Zuckerberg
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Facebook CEO, Zuckerberg apologizes ahead of Congressional quizzing
Facebook Chief Executive Officer (CEO), Mark Zuckerberg, on Monday told Congress the social media network should have done more to prevent itself and its members’ data from being misused and offered a broad apology to lawmakers. His conciliatory tone precedes two days of Congressional hearings where Zuckerberg is set to answer questions about Facebook user…
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Privacy scandal: Facebook CEO testifies before Congress
Facebook Chief Executive Officer Mark Zuckerberg will testify next week before congressional committees over Cambridge Analytica misuse of users’ data to interfere in the democratic process of several countries, including Nigeria. US lawmakers made this known on Wednesday saying Zuckerberg will appear before a joint hearing of the US Senate Judiciary and Commerce committees on…
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Alarming: Facebook privacy scandal widens
Facebook said on Wednesday that the personal information of up to 87 million users may have been improperly shared with political consultancy Cambridge Analytica. This number is up from a previous news media estimate of more than 50 million. Most of the 87 million people whose data was shared with Cambridge Analytica, were in the…
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It may take Facebook years to fix problems related to private user data – Zuckerberg
It may take a few years in order for Facebook to solve the problems associated with third-parties using data from its users in unauthorised ways, Chief Executive Mark Zuckerberg said on Tuesday. “I think we will dig through this hole, but it will take a few years. “I wish I could solve all these issues…
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Zuckerberg’s net worth falls by N5 trillion as Facebook shares drop by 18%
Worlds’ fifth richest person and founder of Facebook, Mark Zuckerberg, valued at $71 billion (roughly N25 trillion) has reportedly lost about $14 billion (roughly N5 trillion) of his net worth. This is as a result of 18% fall in Facebook market shares especially after Zuckerberg agreed to testify before Congress on the recent crisis rocking…
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Facebook shares dip as U.S. regulator announces privacy probe
Facebook Inc shares fell to 6.5 per cent on Monday after United States-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. Scrutiny by the U.S. Federal Trade Commission, which generally confirms the existence of an investigation only in cases of significant public…
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U.S. confirms investigation into Facebook over data privacy scandal
The U.S. Federal Trade Commission (FTC) on Monday confirmed that it was investigating Facebook over its privacy practices. The commission is looking into reports that Facebook failed to honour promises to comply with existing privacy protections, including a data privacy deal between the EU and the U.S. agreed in 2016. “The FTC is firmly and…
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Cambridge Analytica accepts probe into data practices
Data analytics firm, Cambridge Analytica has accepted a probe into how it handled about 50 million data of users on Facebook it obtained from Cambridge University Professor Aleksandr Kogan. Kogan reportedly harvested the Facebook data using a personality quiz app and shared it Cambridge Analytica. Facebook founder and chief executive Mark Zuckerberg had since addressed…