FACEBOOK TO BE FINED RECORD $5BN PRIVACY VIOLATION FINE02 August 2019
Facebook is reportedly facing a record $5bn fine issued by the FTC over privacy violations relating to the Cambridge Analytica scandal.
An investigation by the US regulator which began in March 2018 has concluded that users’ personal data was misused by a third-party app which collected, profiled and targeted 87m Facebook users ahead of the 2016 presidential election. Facebook has been accused of improperly handling user data by allowing developers to access personal data without adequate consent. The financial loss is unlikely to have a substantial negative impact on the firm as it made over $15bn in the first three months of 2019 alone.
CAPITAL ONE BREACH AFFECTS OVER 100 MILLION USERS01 August 2019
Capital One has announced that personal data of 100 million American and 6 million Canadian customers has been stolen from cloud storage buckets by an ex cloud storage system engineer at Amazon Web Services.
The stolen data includes social security numbers, insurance numbers, bank account numbers, names, addresses, email addresses, phone numbers, dates of birth and self-reported incomes. The intrusion occurred as a result of a misconfigured web application firewall which allowed access to the data. The intruder has been apprehended by the FBI and is currently in custody.
EQUIFAX TO PAY $575M IN DATA BREACH SETTLEMENT01 August 2019
Equifax has agreed to pay a settlement fee of $575 million to the Federal Trade Commission (FTC) for damages related to one of the largest data breaches on record.
A press release alleges that Equifax failed to take reasonable steps to secure its network which led to a data breach in 2017 affecting approximately 147 million people. Personal data including names, dates of birth, social security numbers and addresses was compromised which could lead to identity theft and fraud.