Anonymous ID: eb7095 March 26, 2018, 8:55 a.m. No.799466   🗄️.is đź”—kun   >>9744

https:// www.marketwatch.com/story/facebooks-current-woes-exacerbated-by-six-year-old-ftc-settlement-2018-03-26

 

WOOOOW

 

Facebook’s current turmoil over user privacy stem in part to a six-year-old pact with the Federal Trade Commission that the agency now says may have been violated.

 

Facebook shares FB, -2.59% have been hit hard — including another 5% drop on Monday — since a former insider for Cambridge Analytica, the research firm used during the Trump presidential campaign, said data was obtained on millions of users without their consent by getting the information from an academic researcher.

 

The FTC on Monday confirmed it was investigating Facebook’s practices, and the statement from Tom Pahl, acting director of the FTC’s bureau of consumer protection, alluded to the previous settlement with the internet giant. “Companies who have settled previous FTC actions must also comply with FTC order provisions imposing privacy and data security requirements,” Pahl said.

 

That’s a reference to a Nov. 2011 settlement the FTC had with Facebook, alleging the social media site had failed to protect users’ privacy by not disclosing how it was using their data. Under the settlement Facebook was required to obtain outside assessments every two years for the next 20 years to prove it had fixed the violations and hadn’t repeated them.