Facebook wary of more users' data breaches in future
San Francisco, April 27: Facebook has warned investors that more users' data scandals in the future may adversely affect the social networking giant's reputation and brand image.
In its quarterly report shared with the US Securities and Exchange Commission (SEC), without mentioning Cambridge Analytica, Facebook said that its ongoing investments in safety, security, and content review will identify additional instances of misuse of user data.
"We may also be notified of such incidents or activity via the media or other third parties," Facebook said on Thursday.
Appearing before the US Congress, Facebook CEO Mark Zuckerberg told the lawmakers that his own personal data was part of 87 million users' that was "improperly shared" with the British political consultancy firm.
The data was gathered via a quiz app, "thisisyourdigitallife," developed by Aleksandr Kogan, then a psychology researcher with University of Cambridge, and his company Global Science Research (GSR) which pulled out Facebook users' data in 2014-2015.
Facebook warned investors that there may be more such data breaches in the future.
"Such incidents and activities may include the use of user data in a manner inconsistent with our terms or policies, the existence of false or undesirable user accounts, election interference, improper ad purchases, activities that threaten people's safety on- or off-line, or instances of spamming, scraping, or spreading misinformation.
"The discovery of the foregoing may negatively affect user trust and engagement, harm our reputation and brands, and adversely affect our business and financial results," the company said its quarterly report.
"Any such discoveries may also subject us to additional litigation and regulatory inquiries, which could subject us to monetary penalties and damages, divert management's time and attention, and lead to enhanced regulatory oversight," it added.
Facebook on Wednesday beat Wall Street's estimates by raking in $11.97 billion in revenue for the first quarter of 2018.
The social media giant reported $4.98 billion in profit -- up from $4.26 billion in the last quarter.
"Despite facing important challenges, our community continues to grow. More than 2.2 billion people now use Facebook every month and more than 1.4 billion people use it daily," Zuckerberg said in a statement.
Facebook added 70 million monthly active users (MAUs) to reach 2.196 billion users globally -- at 3.14 per cent growth rate.
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Tehran: Iranian President Ebrahim Raisi, who was considered a potential successor to the supreme leader, died in a helicopter crash in northern Iran, state media reported on Monday. He was 63.
The tragic incident occurred amidst heightened tensions in the Middle East, particularly due to the ongoing Israel-Hamas conflict. Last month, under the directive of Supreme Leader Ayatollah Ali Khamenei, Raisi had overseen an unprecedented drone-and-missile attack on Israel, further escalating regional unrest.
Social media buzzed with speculation following the news of the crash. On the microblogging platform ‘X’, the hashtag #Mossad trended as netizens speculated that the Israeli intelligence agency was behind the mishap. One user commented, “It’s never an accident,” reflecting widespread suspicions.
President Raisi was returning from a ceremony to open a dam on Iran’s border with Azerbaijan when the helicopter crashed. He had been in Azerbaijan earlier on May 19 to inaugurate the dam alongside Azerbaijan’s President Ilham Aliyev. Raisi’s death was confirmed in a statement by Vice President Mohsen Mansouri and on state television, according to Reuters.
The helicopter crash follows recent escalations in the region. Iran had launched a deluge of drones and missiles on Israel in response to a suspected Israeli strike that killed top Iranian officials in Syria, deepening the conflict between the two countries.
