Meta Pays $725M To Settle Facebook Privacy Suit

Facebook’s corporate parent company Meta has agreed to pay $725 million to settle a long-running lawsuit that accused the social network of allowing third parties, including Cambridge Analytica, to access users' private data and support Donald Trump’s Presidential campaign.

The settlement is the largest recovery ever for a data privacy class action lawsuit and is the most Facebook has ever paid out to settle a private class action. Facebook has not admitted to any wrong action as part of the settlement.

In August, the social media giant had reportedly reached a preliminary agreement regarding the lawsuit, however, the terms and amount were kept private until now. 

Plaintiffs alleged that Facebook “granted numerous third parties access to their Facebook content and information without their consent, and that Facebook failed to adequately monitor the third parties’ access to, and use of, that information,” according to the law firm behind the lawsuit.

The lawsuit was initiated in 2018, when Facebook was accused of violating privacy rules by sharing data with third parties. The information was ultimately accused of being used to steer US voters in favor of Donald Trump in the 2016 elections. The case was subsequently broadened to focus on Facebook’s overall data-sharing practices which focused on Cambridge Analytica, which has since shut down, which collected and exploited the personal data of 87 million Facebook users without their consent. That information was allegedly used to develop software to steer US voters in support of Trump.

Facebook has not admitted any wrongdoing as part of the settlement, which still requires approval by a judge in the San Francisco division of the US District Court. "We pursued a settlement as it's in the best interest of our community and shareholders... Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program." Meta said in a statement.

Besides the class action settlement, Facebook has agreed to pay $5 billion to the U.S. Federal Trade Commission following the scandal. In response to a similar inquiry, Facebook has also paid $100 million to the U.S. Securities and Exchange Commission. Both cases arose because the company had previously agreed to inform users when their data was being shared with third parties. FTC and SEC findings alleged that Facebook either failed to do so or allegedly used misleading tactics.

Facebook has since removed access to its data from thousands of apps suspected of abusing it, restricted the amount of information available to developers, and made it easier for users to calibrate restrictions on personal data sharing.

Last year, Meta paid US Federal authorities a fine $90m in settlement after Facebook kept tracking users' internet activity after they'd logged off from the platform.

PBS:    CNBC:     Oodaloop:      Security Week:      Telegraph:    Screenrant:  

You Might Also Read:

EU & US Agree New Data Rules To Replace Privacy Shield:

 

« Looking Back - Top 10 Most Read Articles Of 2022
2023 Tech Predictions »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

ON-DEMAND WEBINAR: What Is A Next-Generation Firewall (and why does it matter)?

ON-DEMAND WEBINAR: What Is A Next-Generation Firewall (and why does it matter)?

Watch this webinar to hear security experts from Amazon Web Services (AWS) and SANS break down the myths and realities of what an NGFW is, how to use one, and what it can do for your security posture.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

authen2cate

authen2cate

Authen2cate offers a simple way to provide application access with our Identity and Access Management (IAM) solutions for enterprise, small business, and individual customers alike.

Dispersive Networks

Dispersive Networks

Dispersive Virtual Network is a carrier-grade software-defined programmable network that is inspired by battlefield-proven wireless radio techniques.

Junglemap

Junglemap

Junglemap provide nanolearning training courses on ransomware, information security and GDPR.

Suprema

Suprema

Suprema is a leading global provider of access control and biometrics solutions.

Cyber Struggle

Cyber Struggle

At Cyber Struggle, our aim is training and certifying the special forces of the cyber world.

National Cybersecurity Competence Centre (NC3)

National Cybersecurity Competence Centre (NC3)

NC3 has been established in response to growing demands for practically applicable products and solutions for ensuring cybersecurity of critical and non-critical information infrastructures.

Intel Capital

Intel Capital

Intel Capital, Intel's strategic investment organization, backs innovative technology startups and companies worldwide. We invest in a broad range of hardware, software, and services.

Cambridge Cybercrime Centre

Cambridge Cybercrime Centre

The Cambridge Cybercrime Centre is a multi-disciplinary initiative combining expertise from the Department of Computer Science and Technology, Institute of Criminology and Faculty of Law.

TierPoint

TierPoint

TierPoint delivers secure, reliable, and connected infrastructure solutions at the internet’s edge. We meet you where you are in your journey to solve for data storage, compute, and recovery.

Kindus

Kindus

Kindus is an IT security, assurance and cyber security risk management consultancy.

Senserva

Senserva

Senserva delivers a deep analysis for security user accounts and applications within the Microsoft cloud environment.

Sec-Ops

Sec-Ops

Sec-Ops is a forward thinking cyber security company, formed by a group of security enthusiasts with years of experience and backgrounds in the technology and the government industries.

Polestar Industrial IT

Polestar Industrial IT

Polestar work on both sides of the IT & OT divide. Network, Data & Asset Security is our priority. Polestar installations are robust and resilient and comply with the appropriate security.

Aikido Technology Services

Aikido Technology Services

Aikido Technology Services is a leading-edge technology solutions provider, servicing the Pacific North West USA. We offer affordable IT solutions designed to streamline and secure your business.

National Centre for Digital Security (CNSD) - Peru

National Centre for Digital Security (CNSD) - Peru

The National Center for Digital Security manages and supervises the operation of Digital Security in Peru in order to strengthen digital trust.

Hunt & Hackett

Hunt & Hackett

Hunt & Hackett helps European companies prevent, detect and respond to today’s most advanced adversaries, safeguarding them against cyberthreats and espionage.