Facebook: shares fall after data incident
(CercleFinance.com) - Facebook's shares are down as much as 5% on Monday, after the company said that some of its users' information has been compromised.
The stock, listed on the Nasdaq, is currently down 5.3% at 175.6 dollars.
In a statement released over the weekend, Facebook said that a professor at the University of Cambridge named Dr. Aleksandr Kogan passed data from an app that was using a Facebook login to Cambridge Analytica, a firm that does political, government and military consulting.
While the social network ensures there has been no former "data breach," the group said that Aleksandr Kogan has gained access to information from approximately 270,000 people who downloaded a personality-prediction app.
People knowingly provided their information, meaning that no passwords or sensitive pieces of information were stolen or hacked, it added.
In so doing, users gave their consent for Kogan to access information, such as the city they set on their profile, or content they had liked, as well as more limited information about friends, Facebook said.
Meanwhile, Cambridge Analytica says that it uses data that has been legally and fairly obtained and that it fully complies with Facebook's terms of service.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The stock, listed on the Nasdaq, is currently down 5.3% at 175.6 dollars.
In a statement released over the weekend, Facebook said that a professor at the University of Cambridge named Dr. Aleksandr Kogan passed data from an app that was using a Facebook login to Cambridge Analytica, a firm that does political, government and military consulting.
While the social network ensures there has been no former "data breach," the group said that Aleksandr Kogan has gained access to information from approximately 270,000 people who downloaded a personality-prediction app.
People knowingly provided their information, meaning that no passwords or sensitive pieces of information were stolen or hacked, it added.
In so doing, users gave their consent for Kogan to access information, such as the city they set on their profile, or content they had liked, as well as more limited information about friends, Facebook said.
Meanwhile, Cambridge Analytica says that it uses data that has been legally and fairly obtained and that it fully complies with Facebook's terms of service.
Copyright (c) 2018 CercleFinance.com. All rights reserved.