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Facebook Pledges New Regulations To Prevent Protect User Data, Zuckerberg Apologizes For Mistakes


03/22/2018


Facebook Pledges New Regulations To Prevent Protect User Data, Zuckerberg Apologizes For Mistakes
Facebook admitted to it making misstates in relation to the misuse of personal data of 50 million U.S. users of the social media platform and pledged to take stricter measures to prevent access to personal information by developers.
 
These were announced by the company Chief Executive Mark Zuckerberg on Wednesday who claimed that the company had handled the event wrongfully.
                                
It was earlier this week that there were allegations that London-based political consultancy Cambridge Analytica, which was part of the presidential campaign for Donald Trump in 2016, had misused personal information of about 50 million Facebook users and there are allegations against Facebook that it did nothing to prevent it. the incident had drawn sever criticism against the privacy policy of the company both in the U.S. and in Europe. Cambridge Analytica had allegedly used the personal data to create profiles on American voters which were put to use during the Trump campaign.
 
“This was a major breach of trust. I’m really sorry this happened. We have a basic responsibility to protect people’s data,” Zuckerberg said in an interview with CNN. This is first time that he had broken his silence related to the scandal.
 
The company "made mistakes, there's more to do, and we need to step up and do it", Zuckerberg said in a post on Facebook.
 
Among the new plans for security of private user information is conducting examination into activities of thousands of apps that have made use of the social media platform, limiting access of developers to data and providing users with a tool that would make it easier for them to prevent access of personal data on Facebook.
 
However, the proposed plans did not include any measure that could reduce access to personal data for advertisers on the platform. Advertising is the major source of revenues for the largest social media platform of the company.
 
He was open to testify before the U.S. Congress if he was the right person and added that he was open to further regulations from the government, Zuckerberg said.
 
“I’m not sure we shouldn’t be regulated,” he said during the television interview. “I actually think the question is more what is the right regulation rather than yes or no, should it be regulated? ... People should know who is buying the ads that they see on Facebook.”
 
Facebook is determined to stop any form of interference in the midterm elections to be held in the U.S. soon as well as two major elections forthcoming in Brazil and India in about a couple of years, Zuckerberg said.
 
There was a 0.7 per cent rise in share of the company following the post by Zuckerberg. During the earlier three trading days, about $45 billion had been wiped off the market value of the company on fears by investors that advertisers and users could get discouraged because of the failure to secure personal data of users by the tech firms and stricter regulations by the government.
 
There had not been a “meaningful number of people” who had deleted their Facebook accounts after news of the latest data scandal, Zuckerberg told the New York Times in an interview published on Wednesday.
 
(Source:www.reuters.com)