Treasury Secretary Steven Mnuchin on Monday said the U.S. has "very serious concerns" about Facebook's plans to launch a new cryptocurrency, adding multiple agencies are worried the new currency could be used to finance terrorism or aid money-laundering schemes.
Every day, Facebook users upload hundreds of millions of photos to the social network. If they haven’t opted out, the software scans those photos in search of faces it recognizes. As users either agree or disagree with the recommendations of who should be tagged, Facebook’s algorithms get better. The company’s research suggests that Facebook holds “the largest facial dataset to date”--powered by DeepFace, Facebook’s deep-learning facial recognition system.
A whopping 76.7 of conservatives don’t trust that Facebook treats all of its user equally, regardless of political beliefs, according to a new poll. The Media Research Center’s TechWatch published findings of the poll, conducted by McLaughlin and Associates, on Tuesday. “More than three-fourths of conservatives don’t trust Facebook,” TechWatch’s Corinne Weaver wrote.
Facebook CEO Mark Zuckerberg has stressed the company's focus on privacy in recent months, particularly during its developers conference. But Apple cofounder Steve Wozniak isn't convinced that Facebook is keeping our personal interactions confidential. He recently suggested that "most people" should "figure out a way to get off Facebook"
The currency is known as Libra, which the social network says it has "no special role" in governing and will manage equally with a group of big companies. Experts have branded the move a dangerous power grab that marks Facebook's "most invasive" form of surveillance yet.
There’s a common theme running through the spring season of developer conferences and tech events: trust and privacy. With the tech industry facing a backlash from consumers and regulators, tech giants including Facebook, Google, Apple and Microsoft are looking to assure everyone that they’re listening. But each company is approaching the issue in a very different way, and with a very different track record on the topic.
Facebook stored way more Instagram passwords in a readable plaintext format than it initially thought, the company announced on Thursday. Last month, the social media firm admitted that it stored “hundreds of millions” of user account passwords in plaintext logs. That’s a serious privacy blunder, but it was a bigger problem for users of Facebook’s flagship platform. The company said that the incident only impacted “tens of thousands” of Instagram users.
Federal regulators are discussing whether and how to hold Facebook Chief Executive Mark Zuckerberg personally accountable for the company's history of mismanaging users' private data, two sources familiar with the discussions told NBC News on Thursday. The sources wouldn't elaborate on what measures are specifically under consideration. The Washington Post, which first reported the development, reported that regulators were exploring increased oversight of Zuckerberg's leadership.
Over the previous year Facebook’s stock had gone up as usual, but its reputation was rapidly sinking toward junk bond status. The world had learned how Russian intelligence operatives used the platform to manipulate US voters. Genocidal monks in Myanmar and a despot in the Philippines had taken a liking to the platform. Mid-level employees at the company were getting both crankier and more empowered, and critics everywhere were arguing that Facebook’s tools fostered tribalism and outrage.
Facebook CEO Mark Zuckerberg oversaw plans to consolidate the social network’s power and control competitors by treating its users’ data as a bargaining chip, while publicly proclaiming to be protecting that data, according to about 4,000 pages of leaked company documents largely spanning 2011 to 2015 and obtained by NBC News.