Published: Mon, March 26, 2018
Money | By Wilma Wheeler

Facebook takes out full page newspaper ads to apologise over data breach

Facebook takes out full page newspaper ads to apologise over data breach

We have a responsibility to protect your data, and if we can't then we don't deserve to serve you. Perhaps it's time for a new platform to be rolled out using blockchain technology that would undoubtedly win the hearts of the privacy-conscious.

"You may have heard about a quiz app built by a university researcher that leaked Facebook data of millions of people in 2014", Zuckerberg said in the signed ads, referring to the data analytics firm of accused of misusing Facebook data during the 2016 United States election.

The U.K. -based data-mining firm Cambridge Analytica has been accused of lifting the Facebook profiles of more than 50 million users without their permission in order to manipulate elections.

"All of the Insider Selling Defendants knew about or recklessly disregarded material, non-public information regarding the Cambridge Analytica incident and compromises to user information posed by Facebook's inadequate internal controls described above, but nonetheless sold or otherwise disposed of Facebook common stock on the basis of that information", alleges the lawsuit.

Facebook's shares have skidded about 14 percent since the disclosures a week ago.

On Friday night, investigators from Britain's data watchdog searched the London offices of Cambridge Analytica for several hours.

A 2011 audit by Ireland's Data Protection Commissioner (DPC) said Facebook's security measures were "not considered sufficient" to prevent third party apps from unauthorised use of personal data.

Britain is investigating whether Facebook, the world's largest social media network, did enough to protect data.

In the advert Mark Zuckerberg apologises for the "breach of trust" and says apps like Dr Kogan's, no longer have access to Facebook's data.

Limits on the amount of data that apps get when you sign in using Facebook.

"If you start typing something and change your mind and delete it, Facebook keeps those and analyzes them too", Zeynep Tufekci, a prominent techno-sociologist, said in a 2017 TED talk. He says the data firm approached him for the project and assured him that everything he did was legal.

Facebook was never really about "sharing" with "friends".

Facebook has prospered on digital advertising that benefits from being able to use what people share about themselves to target ads.

The Cambridge Analytics fiasco appears to have crystallized the anxiety many people feel about Facebook's enormous sway over daily life and its massive data trove. Over a year later, the Facebook co-founder faced a crisis over its handling of a large-scale abuse of its users' personal info.

Location and demographic information, which was taken from Facebook, can often be used to tie someone to other data points where the identity was previously unclear. "We're now taking steps to ensure this doesn't happen again".

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