Facebook data insecurity huge problem as many Americans are asking after revelations that a data-mining firm working s on the personal information of tens of millions of Facebook users. And they create detailed profiles which can use to target unsuspecting voters in the presidential election.
There are many questions about how Facebook manages third party access to the sensitive information of its 2 billion users, including what safeguards can prevent apps from sharing information and whether it has any way of knowing when it’s shared more
Facebook says a researcher, Cambridge University’s Aleksandr Kogan, gained access to the data of 270,000 users. It access through a personality quiz app that required users to grant access to their personal information. It includes friends and “likes.”
The Silicon Valley Company says it conducts “a robust review” to determine if apps have a legitimate need for users’ data. It also pointed out it has restricted how much personal information outsiders can obtain since the Cambridge Analytica incident.
“We actually reject a significant number of apps through this process,” Facebook said. It’s unclear if that statement will relieve worried users.
And on Monday the markets reacted. Facebook had one of its worst trading days since 2012. The nearly 7% plunge in Facebook shares led a sell-off in tech stocks.
Russian operatives using Facebook to manipulate voter sentiment during the presidential election, Facebook accounts spreading “fake” news. “The Cambridge Analytica scandal describes how Facebook makes billions of dollars off of our personal information. It is without ever dealing with the consequences,” said Chester, a longtime privacy critic of Facebook.