Patrick Armstrong, CIO at Plurimi Investment Managers, recently warned that social media stocks are likely to drop as more privacy issues emerge. Armstrong said that even though Facebook is presently at the epicenter of the privacy scandal, it is likely that similar occurrences have happened...
The National Privacy Commission announced last Friday that it has begun its investigation into Facebook’s data breach involving Cambridge Analytica which involved the personal information of around 1.2 million Filipinos. The privacy watchdog sent a letter to Facebook CEO Mark Zuckerberg last April 11, informing the...
Last Thursday, European Union Justice Commissioner Vera Jourova said that she had a “constructive and open discussion” with Facebook Chief Operating Officer Sheryl Sandberg on the company’s recent privacy issue. In a half an hour call, Sandberg confirmed that there could be other apps that may...
Last Wednesday at the hearing before the House Energy and Commerce Committee, Rep. Ben Lujan asked Mark Zuckerberg about “shadow profiles” which, according to privacy advocates, is information collected by Facebook on non-users. While Zuckerberg demurred and said that he did not know what a shadow...
As a response to the recent privacy scandal hounding its parent company, Instagram announced that it will be allowing users to download a copy of all the content they have uploaded to the platform. The feature, which is only currently available for Facebook, will be rolled...
Earlier this week, Facebook issued an official statement supporting the California Consumer Privacy Act, a measure that it had previously opposed. Chairman of Californians for Consumer Privacy Alastair Mactaggart responded by saying that they would want Facebook to work with them by providing public and financial...
Andrea Jelinek, EU data protection authorities group head, announced last Thursday that the recent scandal involving Facebook and Cambridge Analytica has prompted them to form a Social Media Working Group which will be looking into cases of social media data harvesting. Jelinek added that apologies from...
In the recent joint session of the Senate Judiciary and Commerce Committees, Facebook CEO Mark Zuckerberg said that he does not believe legislation for the protection of children’s privacy on sites like Facebook will be necessary. This was in response to Sen. Ed Markey’s question asking...
Facebook shares went up 0.78% last Wednesday, in addition to a 4.5% increase the day before as CEO Mark Zuckerberg stood his ground at his first Congressional hearing which lasted for as long as 10 hours. The social network’s head emerged unscathed after deflecting questions from...
In a recent interview with CBS, a former team leader at Facebook said that he warned the company about potential privacy risks such as the one involving Cambridge Analytica back in 2012. Sandy Parakilas, who used to manage the data privacy violations team at the social...