Connect with us
nairametrics

Business News

YouTube fined $170 Million over violation of kids federal privacy law

The United States Government has imposed a $170 million fine on YouTube for violating the kid’s Federal Privacy Law. 

Published

on

Google YouTube CEO, YouTube’s new policy creates fear among content creators

The United States Government has imposed a $170 million fine on YouTube for violating the kid’s Federal Privacy Law. 

The U.S Federal Trade Commission (FTC) said that Google’s video streaming platform was sanctioned for collecting personal information about children without due permission from their parents. 

The fine, which involves a $136 million settlement with the FTC and an additional New York Attorney General’s office $34 million penalty, is said to be the largest amount ever paid since a law banning the collection of information about children under age 13 came into effect in 1998.

[READ MORE: Chams Plc gets a new Managing Director]

How YouTube breached children privacy: YouTube had been accused of tracking viewers of children’s channels using cookies without parental consent and using those cookies to deliver millions of dollars in targeted advertisements to those viewers. Google declined to comment when this settlement leaked last week. 

GTBank 728 x 90

YouTube allows companies to create channels, which include advertisements that create revenue for both the company and YouTube. 

According to the FTC Chairman, Joe Simons, the company had refused to acknowledge that portions of its platform were directed to kids when they clearly were. 

Even though the company had launched a YouTube version for kids called YouTube kids which requires it requires parental consent and uses simple math problems to ensure that kids aren’t signing in on their own, Younger kids below the age of 13 continue to watch and feature in popular YouTube channels on the service that is intended for ages 13 and older.  

GTBank 728 x 90

Meanwhile, in addition to the monetary fine, the proposed settlement requires the company to refrain from violating the law in the future and to notify channel owners about their obligations to get consent from parents before collecting information on children.  

The fine is said to be the largest the FTC has levelled against Google even if it is a tiny fraction when compared to the $5 billion fine imposed against Facebook this year for privacy violations as Nairametrics had earlier reported. 

[READ ALSO: MTN closes centres across Nigeria after being attacked in three States]

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business News

Paga Group relocates to the UK

Oviosu announced that he is very excited about moving to and working with the UK government.

Published

on

Paga records over $2 billion worth of transactions in 2019 , Paga acquires Ethiopian-based startup, Apposit, announces Paga subsidiaries

Paga Group has redomiciled from Mauritius to the United Kingdom (UK). The group is the holding company for its operations in Nigeria, México, Ethiopia, and the UK.

This was disclosed by the Chief Executive Officer and founder, Paga, Tayo Oviosu on Friday.

Why it matters: The company took the decision due to bureaucratic challenges it faced last year.

He said, “The laws and courts of Mauritius are not very fast-moving, and the rules are difficult. I’ve had one court case that was eventually thrown out after a year.

GTBank 728 x 90

“In the UK it would have been thrown out immediately, and the person would have had to pay us for our lawyer fees.

“Basically, not an easy place to do business. It is more painful than useful. I say stick to good ol’ America or UK or Netherlands or Luxemburg. Where you know there are professionals, and the legal system works.”

Oviosu said he is very excited about the move, looks forward to working with the UK government to promote trade with the UK.

GTBank 728 x 90

The Paga Group has raised $34.7 million in funding so far, according to Crunchbase.

Continue Reading

Appointments

Stanbic IBTC Holdings Plc appoints Sola David-Borha as Non-Executive Director

Sola David-Borha has been appointed as a non-Executive Director to the board of Stanbic IBTC Holdings Plc.

Published

on

Stanbic IBTC Holdings Plc appoints Mrs Sola David-Borha as non-Executive Director

Stanbic IBTC Holdings Plc has announced the appointment of Mrs Sola David-Borha to its board as a Non-Executive Director, subject to the receipt of all required regulatory approvals.

In a statement issued by the company, signed by the company’s secretary Mr. Chidi Okezie and sent to the Nigerian Stock Exchange, stated that “Mrs. David- Borha is currently the Chief Executive, Standard Bank (Africa Regions). Prior to that, she served as Chief Executive of Stanbic IBTC Holdings PLC (2012-2017) as well as the Bank (2011-2012), after holding various executive positions in Corporate Banking; Corporate & Investment Banking; and Investment Banking Coverage for Africa (excluding South Africa). She is also an Independent Non-Executive Director on the Board of CocaCola Hellenic Bottling Company.”

She has a vast experience in the financial world and an astute board leader with a keen corporate governance. Sola has led and sat on various boards including being the former Vice Chairman for the Nigerian Economic Summit Group, subsidiaries of the Stanbic IBTC and Standard Bank Groups, Coca-Cola HBG A, and many others. She is also vastly educated having obtained MBA from the prestigious Manchester Business School and Bsc in Economics from the University of Ibadan. She is also an honorary fellow of the Chartered Institute of Bankers of Nigeria (CIBN).

Recall that Stanbic IBTC had earlier declared a Profit After Tax (PAT) of N45.2 billion for H1, 2020. Its gross earnings also increased by 7.8% to N126.57 billion with a basic earnings per share of 419 kobo and a proposed interim dividend payment of 40 kobo per share.

GTBank 728 x 90
Continue Reading

Coronavirus

WHO endorses emergency use of China’s COVID-19 vaccine

China says WHO has approved the emergency use of its COVID-19 vaccine.

Published

on

WHO endorses emergency use of China’s Covid-19 vaccine

The World Health Organization (WHO) has endorsed the plans by China to start administering experimental coronavirus vaccines to people while clinical trials are still underway.

This disclosure was made by a Chinese Health Commission official, Zheng Zhongwei, during a news conference on Friday, September 25, 2020.

Zheng recalled that China launched its emergency programme in July, having communicated with the WHO in late June. Hundreds of thousands essential workers and other limited groups of people considered at high risk of infection have been given the vaccine, even though its efficacy and safety had not been fully established as Phase 3 clinical trials have not yet been completed.

Zheng at the news conference said, “At End-June, China’s State Council approved a plan of COVID-19 vaccine emergency use program. After the approval, on June 29, we made a communication with the relevant representatives of the WHO Office in China, and obtained support and understanding from WHO.’’

Nairametrics had reported that Chinese Pharmaceutical firms have been quite aggressive about the development of a Covid-19 vaccine with the likes of Sinovac Biotech and Sinopharm publicly displaying their vaccine candidate for the first time at a trade fair in Beijing earlier this month.

GTBank 728 x 90

(READ MORE: COVID-19: European regulator ready to approve first successful vaccine this year)

It was pointed out that China National Pharmaceutical Group (Sinopharm) and the US-listed Sinovac Biotech SVA.O, are developing the three vaccines under the state’s emergency use program just as a fourth COVID-19 vaccine is being developed by CanSino Biologics 6185 HK, was approved for use by the Chinese military in June.

The WHO chief scientist Soumya Swaminathan, while describing it as a temporary solution, said earlier this month in Geneva that national regulatory authorities could approve use of medical products within their own jurisdictions in the current emergency situation.

GTBank 728 x 90

He emphasized that the long-term solution in the successful development of a Covid-19 vaccine, lay in completion of Phase 3 trials, this is as China has not publicly released full details of its emergency use programme.

Zheng disclosed that China’s annual production capacity of COVID-19 vaccines is expected to reach 610 million doses by end-2020 and 1 billion doses by 2021. He said that the price of the vaccine will be affordable for the general public.

Continue Reading
Advertisement
Advertisement
Advertisement
ikeja electric
Advertisement
Patricia
Advertisement
FCMB ads
Advertisement
Advertisement
IZIKJON
Advertisement
Fidelity ads
Advertisement
first bank
Advertisement
bitad
Advertisement
deals book
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement