Facebook rocked by data breach scandal as investigations loom

The New York Times and The Observer of London have reported U.S. President Donald Trump's 2016 campaign hired a data-analytics company that harvested private information from the Facebook profiles of more than 50 million users. And a Canadian is at

Yet Cambridge boasted of its work after another client, Texas Republican Sen. The firm itself denies wrongdoing, and says it didn't retain any of the data pulled from Facebook and didn't use it in its 2016 campaign work. Ted Cruz's failed presidential campaign.

Reports in The Observer suggested that the information was used to target political advertising in the 2016 U.S. presidential election - something denied by CA.

Facebook shares plunged Monday as the social media giant faced an onslaught of criticism at home and overseas over revelations that a firm working for Donald Trump's presidential campaign harvested and misused data on 50 million members. Amy Klobuchar, to call out Facebook CEO Mark Zuckerberg to testify before the Senate Judiciary Committee. Cambridge Analytica is the United Kingdom -based company often credited with helping to engineer Trump's 2016 election victory by using "psychographic" data to create personality profiles of individual voters, helping the Trump campaign target those voters with highly personalized propaganda messages via social media outlets such as Facebook.

He estimated that $5 billion in annual revenue for Facebook might be a risk and said the situation could create problems for other tech companies, especially Twitter and Alphabet's YouTube unit.

"If this data still exists, it would be a grave violation of Facebook's policies", the statement said.

Facebook added that Aleksandr Kogan, the creator of the personality app from which the Facebook data had been harvested, had also agreed to be audited.


Wylie said Cambridge Analytica aimed to "explore mental vulnerabilities of people".

Facebook plunged to its worst loss in four years Monday and led a rout in technology companies. Nicholas Thompson, a CBS News contributor and editor-in-chief of Wired magazine, said on CBSN on Monday that Facebook was "very upset" about the use of the word "breach" in a headline in the British newspaper the Guardian, which first broke the story over the weekend. Microsoft slid $1.86, or 2 percent, to $92.74.

"This is based on an idea called 'informational dominance, ' which is the idea that if you can capture every channel of information around a person and then inject content around them, you can change their perception of what's actually happening", Wylie said Monday on NBC's "Today". He also said that while political ads are also targeted at specific voters, what's different here is that people wouldn't know they were getting messages aimed at influencing their views.

Cambridge was backed by the conservative billionaire Richard Mercer, and at one point employed Stephen Bannon - later President Donald Trump's campaign chairman and White House adviser - as a vice president.

"After it subsequently became known that GSR had broken its contract with Cambridge Analytica because it had not adhered to data protection regulation, Cambridge Analytica deleted all the Facebook data and derivatives, in cooperation with Facebook".

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