Main news of the week for most foreign and the Russian media — a data breach of 50 million users Facebook third party consulting company Cambridge Analytica. And again all this is trying to reduce to the intervention of the Russian intelligence services in the U.S. presidential election.
Against the background of these data, the capitalization of Facebook on the morning of March 19 fell by 8% or 58 billion dollars.
The fall in the value of shares of Facebook
How it all began
This past weekend two major Newspapers, The Guardian and The New York Times, published the story of a former employee of the Cambridge Analytica Christopher Wiley. According to him, his former employer had collected the data of users of Facebook without their knowledge and guide the social network knew what was happening, but did nothing.
It all started back in 2015, when the teacher Cambridge University Alexander Kogan has developed for Cambridge Analytica app which conducted the survey. Harmless survey of 270 thousand people opened the company access to the data of 50 million users.
Data provided by the users themselves, because the permission to run applications written paragraph for data access friends. On this focuses the attention of Facebook, apologizing to the world. Plus, in Facebook I thought that the data collected solely for research purposes.
Who are Cambridge Analytica
The British company analyses the data and the portraits of the users for further use of this in advertising. For the first time the company drew attention after her participation in the elections of the President of the United States, where she was on the side of trump. The victory of billionaire Cambridge Analytica attributed to their own merits, but to assess the real effect of targeted advertising difficult.
That says Facebook
The leadership of the largest social network believes that no information leakage and to blame the users themselves have agreed to the transfer of data within the app. App Kogan removed in 2015, and took from the company a written promise to delete all the data. Obviously, the Cambridge Analytica promise not kept.
March 21, Wednesday, mark Zuckerberg has posted a review of the situation by telling how it all began and what actions will take the company. Will begin with an analysis of all applications made in 2014, and the limitations of your developers access to user data.
Later Zuckerberg also noted that in this situation there is no sign of Russian hackers and their interference in the race, what cry all foreign media.
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Despite all this, we can predict billions of dollars in lawsuits and penalties from not only users, but authorities of the United States. Facebook back in 2011, agreed to abide by high standards of protection of user data, the violation of which is threatened with the penalty in 40 thousand dollars for each victim user.
Against the backdrop of these scandals, the network has launched a massive flash mob, calling to remove your account from Facebook. The action was joined by many celebrities. One of the first it was supported by Brian Acton, founder of WhatsApp messenger, now owned by Facebook.
On Friday, March 23, Elon Musk has removed the page, SpaceX and Tesla, which was signed in the amount of 2.6 million people. Funny in this situation is that the Mask up to this point did not know that companies have official pages in Facebook.
Response Mask to erase the page
The scandal is gaining momentum and how it translates into Facebook is difficult to predict. But regardless of the outcome, each of us should rely primarily on your care and before installing unknown applications, you need to read all the conditions, as from errors nobody is insured.