Facebook's shares are dropping on Cambridge Analytica allegations

PORTUGAL-WEBSUMMIT

Ted Cruz during the 2016 presidential primary. And the stench of association won't improve anytime soon after the U.K.'s Channel 4 aired this undercover footage that shows Cambridge Analytica CEO Alexander Nix boasting about using sex workers to ensnare politicians.

A data analytics firm backed by Robert Mercer, a hedge fund billionaire and Trump supporter.

"It is essential that people can have confidence that their personal data will be protected and used in an appropriate way". While only 270,000 people used the app, it gained data on more than 50 million Facebook users. Facebook's been pursuing research questions with qualified researchers for some time.

Facebook has denied the data collection was a breach because people knowingly provided their information.

A Cambridge Analytica spokesman, cited by Channel 4, denied reports that its firm and affiliates "use entrapment, bribes, or so-called "honey-traps" for any goal whatsoever".

Facebook Chief Security Officer Alex Stamos gives a keynote address during the Black Hat information security conference in Las Vegas, Nevada, U.S. July 26, 2017.

Channel 4 News, the flagship news program of Channel 4, is a commercially-funded, publicly-owned broadcaster, which operates separately from the BBC.

However, since the app also collected data of their friends, about 50 million total Facebook profiles were collected. After two years of failing to disclose the harvesting, Facebook said Monday that it hired an outside firm to audit Cambridge Analytica and its activities.

But Facebook did not inform users whose data had been harvested.

"We now make too many errors enforcing our policies and preventing misuse of our tools", Zuckerberg said in a Facebook post about his 2018 goals.

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"Facebook and Google will have to ask users a lot more permission to track them", Carroll said.

Ricci says marketers are already using similar profiling techniques to sell products and services.

The post-mortem into the affair, and how the data were used in Cambridge Analytica's efforts to help Donald Trump win the 2016 USA presidential election, is in full swing.

Still he said "risks are now enhanced" because of the potential for regulations on how Facebook uses data for advertising and monitoring users. A conservative British lawmaker called for him to testify in a parliamentary inquiry over Russian meddling in the United Kingdom referendum to leave the European Union. Tajani, who is president of the European Union parliament, hasn't provided details. The Trump campaign hired the analytics firm in July, 2016 and ended up paying $5.9 million for its services.

Alphabet, Google's parent company, lost nearly 3 percent and Microsoft fell nearly 2 percent.

Those associated with Cambridge Analytica promised to delete the data, but Facebook never followed up to verify they kept that promise.

He says the firm used "informational dominance" to capture every channel of information around a person to surround them with curated information, changing their perception of what's actually happening. He said the firm identified voters who might be swayed and targeted them with messages that may or may not be true.

The information that is uncovered through such clandestine work is then put "into the bloodstream to the internet", said Mark Turnbull, another Cambridge executive, in an encounter in December 2015 at the Berkeley hotel in London.

At the time, the idea was viewed as too invasive and raised concerns with the Liberals, who declined to have anything to do with it, said the insider: Wylie's recommended data-collection approach spooked party officials to the point that it became an significant factor behind their decision not to renew his contract in 2009.

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