Facebook to clearly label political advertising in Britain, CTO says

Facebook to clearly label political advertising in Britain, CTO says

Facebook to clearly label political advertising in Britain, CTO says

The California-based social-media company released its quarterly results on Wednesday evening.

During these hearings, Facebook users who found out that their private data were vulnerable to third parties launched the #deletefacebook movement on several social media outlets, asking all to delete, not disable, their Facebook accounts permanently. Facebook's chief executive also reiterated the social network's pledge to beef up its security and content review teams - a mix of full-time employees and contractors - to well over 20,000 people by the end of 2018.

"There isn't an opt-out for political advertising", he said.

"Facebook's ad unit innovation, investment and focus on bringing new advertisers to the platform are driving this", Morgan Stanley analyst Brian Nowak said. "You aren't an innocent party maligned by the likes of Cambridge Analytica: you are the problem".

Nevertheless, its grimly amusing to see how despite the massive data use scandal and other minor eyebrow-raising data privacy reports, Facebook still has a heck of a lot appeal.

In a written submission prior to the hearing, Schroepfer said those wanting to run political adverts would have to complete an authorization process and the messages would also have to display who paid for them.

Schroepfer's written evidence also revealed Facebook had investigated accusations around the involvement of data firm Cambridge Analytica in the 2016 Brexit referendum.

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The allegations against Cambridge Analytica have heightened concerns over whether the data of Facebook users was then used to try and influence the outcome of the 2016 US presidential election and the U.K.'s referendumto leave the European Union, which it denies.

Inquiry chair MP Damian Collins put forward questions regarding the use of Facebook users' data to allegedly influence the Brexit referendum and USA presidential election. "We did not, we do not read all of the terms and conditions at the time". I'm trying to do my best to answer the questions.

In the United States, Facebook is facing the potential of massive fines from the Federal Trade Commission if the agency determines that the company misled users about its privacy protections. Facebook is expected to take 18 per cent of global digital ad revenue this year, compared with Google's 31 per cent, according to research firm eMarketer. In an interview, he noted that Chancellor had made Facebook aware about GSR when he was hired.

In a statement, Zuckerberg acknowledged the company's recent image problems while figuratively laughing all the way to the bank.

It was left to committee chair Damian Collins to ask about a Politico story published during the session which suggested Zuckerberg had agreed to address MPs of the European parliament in Brussels.

"I understand, he has been getting requests from all over the world to come talk about this", Schroepfer said.

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