Former Cambridge Analytica employee opens up
- Author: Marlene Weaver Mar 20, 2018,
Mar 20, 2018, 3:15
"When we learned of this violation in 2015, we removed his app from Facebook and demanded certifications from Kogan and all parties he had given data to that the information had been destroyed", Facebook's vice president and deputy general counsel Paul Grewal said in a blog post.
Cambridge, originally funded by former Renaissance Technologies co-CEO and early Trump backer Robert Mercer, uses data to reach voters with hyper-targeted messaging, including on Facebook and other online services.
The scrutiny presents a new threat to Facebook's reputation, which is already under attack over Russians' use of Facebook tools to sway American voters with "fake news" posts before and after the 2016 United States elections. The firm said none of that data was used in its 2016 election work for the "avoidance of doubt".
"(Tech companies) are going to get a lot more scrutiny over what data they are collecting and how they are using it", said Shawn Cruz, senior trading specialist at TD Ameritrade in Chicago.
Facebook usually sends lawyers to testify to Congress, or allows trade organisations to represent it and other technology companies in front of lawmakers. He didn't respond to questions about whether Facebook threatened legal action.
But experts say it's hard to conclude whether data collection by a Trump-affiliated political firm, Cambridge Analytica, influenced the election.
Reports in The Observer suggested that the information was used to target political advertising in the 2016 U.S. presidential election - something denied by CA.
"The recent Cambridge Analytica stories by the NY Times and The Guardian are important and powerful, but it is incorrect to call this a "breach" under any reasonable definition of the term", Stamos says in one screenshot. "It is essential that people can have confidence that their personal data will be protected and used in an appropriate way". The social media company's stock fell following reports that a data mining firm working for the Trump campaign improperly obtained data on 50 million Facebook users.
Facebook is having its worst trading day since 2012 as details emerge about how a data mining company working for the Trump campaign improperly obtained and kept data on tens of millions of users during the 2016 election.
The firm is accused of using the personal data of 50 million Facebook members, amassed via a personality quiz app created by an academic.
Ives, of GBH, said Wall Street is more concerned about the latest situation than it was about issues like Facebook's platform spreading fake news.
"Facebook data was not used by Cambridge Analytica as part of the services it provided to the Donald Trump presidential campaign", a statement read. Cambridge was hired to help with voter outreach by the Trump campaign, whose former campaign manager, Steve Bannon, had been on its board.
"After it subsequently became known that GSR had broken its contract with Cambridge Analytica because it had not adhered to data protection regulation, Cambridge Analytica deleted all the Facebook data and derivatives, in cooperation with Facebook".