Facebook came into being as a social media platform which connects people. Of late it has also ventured into a marketplace for organizations and marketing professionals. More importantly, regulators and governments of various nations are using it effectively to their use. All this means data transfer of millions and billions of individuals, organizations and nations to Facebook.
But this does not stop here! So what is the sound around the Facebook data leak? Let’s go deeper into this.
Cambridge Analytica, a political data analysis firm, used a legitimate application distributed by a third party to collect data from Facebook users. The application was voluntarily downloaded by 270,000 people. But access was abused and the data was incorrectly passed to Cambridge Analytica to create political profiles in more than 50 million users, with the intention of influencing elections worldwide.
The scandal stimulated investigations into Facebook’s data exchange, privacy practices and control over third-party access, including an investigation by the Federal Trade Commission (FTC). The U.S. Department of Justice and the Securities and Exchange Commission also started an investigation with the FTC to conclude what Facebook knew about Cambridge Analytica’s actions in 2015 and whether the company hold back from disclosing relevant information.
In an effort to avoid future occurrences, Facebook introduced fresh privacy panels and a greater bug plenty. The company also faced calls to regulate the social network and offered to work with lawmakers on the types of regulation that would be better.
In April 2018, the company admitted that the Cambridge Analytica scandal may have involved 87 million people. After this charge, Zuckerberg appeared before Congress and EU lawmakers about Facebook security problems.
Facebook survived a fairly calm summer in 2018 before the news came out in September that the attackers exploited a vulnerability and obtained access tokens for what were initially thought to be up to 50 million accounts. Two weeks later, in October, Facebook updated its conclusions to explain that the number of affected users were in fact about 30 million, and the attackers gained access to data that included contact details, locations, birth dates and search history. It was suspected that the violation was the work of spammers. In February 2019, more internal Facebook emails were leaked and a secret program that the company had planned in 2012 was revealed, which would match the location data of Android users with the IDs of the mobile sites to offer Products that recognize the location. The emails also detailed Facebook’s plans to use the Android application to gather information about rival companies, including how rival applications used Facebook.
In recent times, according to reports, Facebook has been in talks with the FTC regarding the investigation that started after the Cambridge Analytica scandal, and Facebook said it believes to receive a fine of between $ 3 billion and $ 5 billion from the FTC. This is much less than the worst case scenario, which said Facebook’s fine could have been much more.