Facebook Warns Investors That There Might Be More Data Breaches

• Facebook is uncertain about the data breaches that happened in the past.
• According to their new filing with the US Securities and Exchange Commission, there might be more data breaches similar to Cambridge Analytica Scandal.
• Facebook promises that they will do investigations on apps that might have access to a large amount of user data.

The recent Cambridge Analytica scandal might not be the last one according to the recent filling that Facebook did this week with the US Securities and Exchange Commission. According to the filling, Facebook thinks that there is a probability of finding more data misuses similar to the Cambridge Analytica scandal.

In the filing, Facebook also reiterated the fact that a lot of third-party apps had access to the data generated by the users before 2014. Due to this fact, they are going to do a proper investigation and expect to find similar data breaches. They are almost certain that there is data misuse by third-party developers. The filing comes after Facebook reported their strong first-quarter earnings.

The filing also stated, “We anticipate that our ongoing investments in safety, security, and content review will identify additional instances of misuse of user data or other undesirable activity by third parties on our platform.”

Until 2014, Facebook was never so strict when it comes to data that is generated or accessed by the apps developed by 3rd party. Mark Zuckerberg conveyed the message through a public post on Facebook.

The steps are taken to ensure the best interest of the Facebook’s investors. They want to ensure that the investors should not be caught off guard when another data breach gets reported. They also stated, “We may also be notified of such incidents or activity via the media or other third parties.” The way Facebook is currently handling their platform means that we can expect more negative news shortly.

A critical paragraph from the filling sums it up as below.

“Such incidents and activities may include the use of user data in a manner inconsistent with our terms or policies, the existence of false or undesirable user accounts, election interference, improper ad purchases, activities that threaten people’s safety on- or offline, or instances of spamming, scraping, or spreading misinformation.”

Even though Facebook came out unscathed from the Cambridge Analytica scandal, things don’t look good. For now, Facebook is taking a safe route and protecting the investors by being clear on what to expect.