United Kingdom investigates Facebook in data affair

Among other things, it is a question of whether Facebook acted decisively after the loss of the data and provided timely information, ICO chief Elizabeth Denham told BBC Radio. At the same time, they are seeking a search warrant against British data analytics firm Cambridge Analytica, which is believed to have accessed the data of 50 million Facebook users without permission. The company, which supported U.S. President Donald Trump in the 2016 election campaign, allegedly used personalized Facebook ads to influence voting decisions. European as well as U.S. parliamentarians demanded an immediate explanation from the consulting firm. In the U.S., Senator John Kennedy, among others, called on Facebook CEO Mark Zuckerberg to answer questions to Congress about his company's activities. The world's largest Internet network announced that it had hired auditors from the firm Stroz Friedberg. These are to investigate whether Cambridge Analytica is still in possession of the data. On Monday, they had been in their London office. According to information from the British television channel Channel 4, managers of Cambridge Analytica have boasted of being able to influence elections worldwide with the help of digital manipulation and political deception.

Uncertainty on the stock market

Facebook has been battling headwinds for some time. The Internet company has already come under fire for alleged Russian influence on the US election campaign via Facebook. As a result, the network launched a transparency offensive and changed various processes. The latest problems caused a sell-off on the stock market on Monday. Facebook shares fell almost seven percent, losing nearly $40 billion in market value. Now a light is shining on Facebook's privacy practices, and the picture that is being revealed is not pretty, said University of Maryland law professor Frank Pasquale. Concerns about tougher regulation sent the stocks of Twitter, Google parent Alphabet and Snap lower. Facebook shares were also down in pre-market trading Tuesday. Investors fear stricter regulations could lead to users spending less time on the respective platforms, resulting in lower advertising revenue for them

Apparently new head of security

According to insiders, Facebook now has to look for a new security chief amid its privacy problems. Alex Stamos wants to leave the company because of disagreements over its handling of the alleged Russian disinformation campaign, a person familiar with the matter told Reuters. The New York Times had first reported on the matter. Facebook would not comment on the matter. (SDA/reu)