• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Facebook fined $5 billion after a 16-month-long probe

Damilare Famuyiwa by Damilare Famuyiwa
July 25, 2019
in Business News, Company News
Facebook’s employees protest over Mark Zuckerberg’s stance on President Trump’s post ,Facebook's cryptocurrency, Tech Hub, Here is why Facebook is under probe again, Facebook Accelerator Nigeria Opens with Season Two Bootcamp, Nigerian, Ghanian startups to participate in Facebook Accelerator Programme , Facebook acquires tech startup , Facebook deletes multiple accounts in Nigeria, others , COVID 19: Facebook provides free Ads to help WHO combat Misinformation
Share on FacebookShare on TwitterShare on Linkedin

After a 16-month-long probe, the United States Government has imposed a $5 billion fine on Facebook for its involvement with Cambridge Analytica.

The American social media and social networking service company was sanctioned over privacy mishaps. According to the U.S. government, Facebook had repeatedly misled its 2.2 billion users.

[READ MORE: Access Bank partners with She Leads Africa on Facebook Program for training Female Entrepreneurs…]

RelatedStories

Meta rolls out Teens Accounts on Facebook, Messenger to protect under 18 users

Meta rolls out Teens Accounts on Facebook, Messenger to protect under 18 users

April 8, 2025
Facebook to auto-delete old live videos, introduces 30-day storage limit 

Facebook to auto-delete old live videos, introduces 30-day storage limit 

February 19, 2025

The U.S Federal Trade Commission (FTC) argued that the social-networking company was not upfront about the ways app developers, advertisers, and others gained access to users’ personal data — from the content they “liked” to the phone numbers they stored. This, according to the Commission, is a breach of Facebook’s previous promise to improve its privacy protections online.

“Despite repeated promises to its billions of users worldwide that they could control how their personal information is shared, Facebook undermined consumers’ choices,” FTC Chairman, Joe Simons said in a statement.

How Facebook breached users’ privacy:  Cambridge Analytica, a data analytics firm that worked with Donald Trump’s election team and the winning Brexit campaign harvested millions of Facebook profiles of US voters, and used them to build a powerful software programme to predict and influence choices during the election about four years ago.

The Cambridge Analytica headed at the time by Trump’s key adviser, Steve Bannon, was said to have used personal information taken without authorisation in early 2014 to build a system that could profile individual US voter, in order to target them with personalised political advertisements.

Christopher Wylie, who worked with a Cambridge University academic to obtain the data, was quoted to have said, “We exploited Facebook to harvest millions of people’s profiles and built models to exploit what we knew about them and target their inner demons. That was the basis the entire company was built on.”

[READ ALSO: 7 key takeaways from Facebook’s Cryptocurrency, Libra]

Documents seen and confirmed by a Facebook statement, show that by late 2015, the company had found out that information had been harvested on an unprecedented scale. However, at the time, it failed to alert users and took only limited steps to recover and secure the private information of more than 50 million individuals.

The data was collected through an app called thisisyourdigitallife, built by academic Aleksandr Kogan, separately from his work at Cambridge University. Through his company, Global Science Research (GSR), in collaboration with Cambridge Analytica, hundreds of thousands of users were paid to take a personality test and agreed to have their data collected for academic use.

The app also collected the information of the test-takers’ Facebook friends, leading to the accumulation of a data pool tens of millions strong. Facebook’s “platform policy” allowed only collection of friends’ data to improve user experience in the app and barred it from being sold on or used for advertising. The discovery of the unprecedented data harvesting, and the use to which it was put, raised concerns about Facebook’s role in targeting voters in the last US Presidential Election.

[READ FURTHER: MoneyMetro Podcast: @Ugodre @walesmit discuss Forte Oil, Airtel Listing, Facebook Libra, Garba Shehu, Economist,…]


Follow us for Breaking News and Market Intelligence.
Tags: Facebook
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Related Posts

Meta rolls out Teens Accounts on Facebook, Messenger to protect under 18 users
Sectors

Meta rolls out Teens Accounts on Facebook, Messenger to protect under 18 users

April 8, 2025
Facebook to auto-delete old live videos, introduces 30-day storage limit 
Sectors

Facebook to auto-delete old live videos, introduces 30-day storage limit 

February 19, 2025
Meta, Mark Zuckerberg
Sectors

Meta to end fact-checking program on Facebook, Instagram, shift to Community Notes 

January 7, 2025
Why people are spending more time on Facebook, Instagram—Mark Zuckerberg
Sectors

EU fines Meta 797 million euros over Facebook marketplace integration 

November 14, 2024
Meta removes 63,000 Nigerian Instagram accounts over ‘sextortion’ scams 
Sectors

Researchers uncover new malware campaign targeting Facebook users globally through ads  

November 1, 2024
Why people are spending more time on Facebook, Instagram—Mark Zuckerberg
Sectors

Meta reintroduces facial recognition to tackle celebrity scams on Facebook 

October 22, 2024
Next Post
Kongo company result, Konga acquisitions, Konga CEOs, Zinox Group acquires Konga, Konga, Jumia, e-commerce, Jiji acquires OLX, Zinox Technologies

Konga's turnover increases by 800%, as company claims to be self-sufficient

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Food Price: Dry onions up 17.65%, pepper down 29.41% as Lagos markets swing in June 2025 
  • Nigeria launches ASIF Investment Platform to drive cross-border financing in infrastructure across Africa 
  • Nigeria’s Bosun Tijani elected Vice Chair of ITU Council 2025 

Follow us on social media:

Recent News

Food Inflation, Insecurity, Supply Chain Issues,

Food Price: Dry onions up 17.65%, pepper down 29.41% as Lagos markets swing in June 2025 

June 17, 2025
Nigeria launches ASIF Investment Platform to drive cross-border financing in infrastructure across Africa 

Nigeria launches ASIF Investment Platform to drive cross-border financing in infrastructure across Africa 

June 17, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics