• Facebook introduced secretive new developer terms to prevent another Cambridge Analytica

    7 monthes ago - By Chron

    Justin Sullivan/Getty
    There are new details of the secretive new terms Facebook is asking developers to sign before they can run apps on the social network.
    The new terms are designed to help Facebook police what data developers use and to prevent a second Cambridge Analytica.
    Facebook is trying to be more transparent but it isn't publishing these new developer terms openly.
    This makes it hard to see how Facebook might prevent further abuse of its platform.
    Facebook has talked about restricting developer access to its platform in the wake of Cambridge Analytica, but we haven't heard much...
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  • It would take Facebook just 18 minutes to pay off its £500,000 fine for the Cambridge Analytica scandal

    7 monthes ago - By Chron

    Chip Somodevilla/Getty Images
    Facebook is facing a £500,000 fine from the UK's data watchdog over the Cambridge Analytical scandal.
    It's the first penalty Facebook would pay for mishandling people's information.
    But the company makes so much money that it would take just 18 minutes to pay it off.
    If Facebook had been fined under new European laws, the maximum penalty would have been $1.6 billion.
    It would take Facebook just 18 minutes to pay off the £500,000 fine proposed as a punishment by the UK's data watchdog for the Cambridge Analytica data scandal.
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  • Facebook is facing multiple class action lawsuits over the Cambridge Analytica scandal

    7 monthes ago - By Chron

    Photo by Alex Wong/Getty Images
    Advocacy group Fair Vote UK is assembling a class action lawsuit against Facebook over its mishandling of people's information.
    Fair Vote has 84 claimants so far, but 1.1 million British citizens were affected by the breach overall.
    The news comes after the UK's privacy watchdog said it planned to fine Facebook £500,000 for breaking data protection laws.
    Data protection lawyer Sean Humber says that Facebook could potentially face a bill running into the hundreds of millions of pounds, or even higher depending on how seriously the data was misused.
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  • Facebook receives maximum fine over Cambridge Analytical scandal

    7 monthes ago - By Fast Company

    But at only $660,000, it will take the company just 18 minutes to pay it off.
    The fine was levied by the United Kingdom's data watchdog, the Information Commissioner's Office , reports CNBC. The ICO fined Facebook because they said the company failed to safeguard users' data and it also was not transparent about how user data was harvested by others. But though the company received the maximum fine allowable by law-it was only £500,000. As Business Insider points out , Facebook makes around $37,037 a minute, meaning it will take the social media giant just 18 minutes to earn enough to pay...
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  • Facebook facing small but symbolic UK fine over data protection breaches

    7 monthes ago - By Reuters

    Britain's information regulator slapped Facebook with a small but symbolic fine for breaches of data protection law after millions of users' data was improperly accessed by consultancy Cambridge Analytica.
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  • More Tariffs, Pfizer Prices, Facebook Fine: CEO Daily for July 11, 2018

    7 monthes ago - By Fortune

    Good morning.
    When PepsiCo CEO Indra Nooyi first started talking about healthy foods a decade ago, her investors pushed back. Pepsi makes its money off of sugared water and potato chips, they argued. Don't buck the tide.
    But Nooyi was early in seeing changes in the market. And she also believed her company needed a purpose as well as profits. So she continued to push healthy alternatives-boosting them to 50% of the company's revenue last year, according to Pepsi's sustainability report, which comes out this morning. (CEO Daily got an early look; you can find it later today here .) "We've...
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  • Facebook Is Getting Its First Big Fine Over the Cambridge Analytica Scandal

    7 monthes ago - By Fortune

    Facebook will be hit with its first fine over the Cambridge Analytica scandal, in which the political consultancy used the platform to harvest the details of 87 million people .
    The British privacy watchdog, the Information Commissioner's Office said Wednesday that intends to fine Facebook the maximum possible fine for the data protection violation. However, because the abuse took place before the introduction of the EU's new General Data Protection Regulation , which allows fines of up to 4% of global annual revenues, the ICO is only able to fine Facebook ?500,000 which is the limit under...
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