Facebook

Facebook shares drop on report of widened probe on data scandal

admin No Comments

Shares of Facebook Inc fell 2 percent on Tuesday, after a report that a federal probe on the data breach linked to Cambridge Analytica had been broadened and would include more government agencies.

Facebook shares were down 2 percent at $193.36 in early trading on the Nasdaq, erasing nearly $12 billion from the company’s market valuation. The stock lost about 18 percent of its value in the seven trading days after the data scandal broke, but has since gained about 27 percent to date.

Facebook has faced intense scrutiny around the Cambridge scandal, which saw millions of users’ data improperly accessed by the political consultancy.

The Federal Bureau of Investigation, the Securities and Exchange Commission and the Federal Trade Commission have joined the Department of Justice in its inquiries about the two companies and the sharing of personal information of 71 million Americans, the Washington Post reported citing five people.

A Facebook spokesperson told Reuters late on Monday that it is cooperating with officials in the US, UK and beyond.

“We’ve provided public testimony, answered questions, and pledged to continue our assistance as their work continues,” the spokesperson said. The questioning from federal investigators centers on what Facebook knew three years ago and why the company did not reveal it at the time to its users or investors, the Washington Post said.

The post Facebook shares drop on report of widened probe on data scandal appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

KZN premier lambastes racial attack on Indians

admin No Comments

Willies Mchunu

KwaZulu-Natal Premier Willies Mchunu has condemned the racial comment making rounds on Facebook, in which the user is inciting violence against the Indian community.

In his comment, the user says Indians should go back to India, or suffer the consequences – making inferences to the recent death of a young girl in a botched hijacking in Chatsworth, south of Durban.

The subsequent outbursts on Facebook have created much racial tensions, to which a local businessman has laid charges.

Mchunu says he will be instructing a team to investigate, so that the user responsible will be charged accordingly.

“Why they are made a soft target I do not know. No Indians who are living in KZN or SA legally can be evicted by a single SMS. We plead with every member of society, ‘let us not bow down to this racial hatred that is displayed by some people. Let us not target the Indian community and make them a soft target for these attacks.’”

Chairperson of the Grey Street Mosque, Ahmed Valley Mohammed, says the Indian community is tired of being the soft target, when it comes to crime. He says he believes prayer is greatly needed in South Africa.

“I cannot justify if this is a trouble or criminal element, but it is on social media, and a message of this nature can turn a wrong signal and message. It will be difficult for our people who are going through a traumatic time of being hijacked, assaulted and robbed… I will pray, because it’s not only a threat, but a racist allegation and something must be done.”

The post KZN premier lambastes racial attack on Indians appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Facebook, Twitter face deadline in Brexit fake news probe

admin No Comments

Social media giants Facebook and Twitter are facing a deadline in Britain to cooperate with an inquiry into so-called fake news in the Brexit referendum campaign, a parliamentary committee chairman said Friday.

The companies have been given until January 18 to share information requested by British lawmakers probing suspected Russian interference around the vote, according to Damian Collins, chair of the Department of Culture, Media and Sport select committee.

He told AFP both his committee and the Government would review what action could be taken if the tech titans fail to comply.

“It’s been over a month since we made the request to Facebook for this information and we need to see some action,” Collins said.

“They have ignored our requests… for information on any activity relating to fake accounts and in fact only responded in relation to accounts set up in the USA but not set up here.”

 

He added: “We have had similar issues with Twitter and we have gone back to them and asked them for deeper investigations.”

 

The Conservative Party member of parliament said the committee had been clear in its requests to the companies, as it examines influence exerted during the 2016 referendum on Britain leaving the European Union.

“We want to know what links there are between fake accounts set up here and Russian agencies,” he said. “They have not answered our questions.”

Collins added it was “simply not credible” for Facebook to continue profiting from advertising while stonewalling his inquiry.

 

The company had shown itself capable of acting, such as during the French presidential election when it removed 35,000 accounts, he said.

“They are best placed to do their own investigating as they know the characteristics of their accounts holders and what payments have been made from Russian agencies and what acocunts they relate to,” Collins added.

Facebook and Twitter did not respond to requests for comment on Friday.

The EU is also looking into whether the social media companies have done enough to prevent misinformation peddling on their platforms.

It launched a public consultation on the phenomenon in November, the first step in a process that could see the promotion of bogus news stories made illegal in Europe.

 

 

The post Facebook, Twitter face deadline in Brexit fake news probe appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Recent Comments

    Categories