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3/21, 8:42 PM (Source: TeleTrader.com)
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Zuckerberg outlines steps to tackle Cambridge Analytica scandal

Chief Executive Officer of Facebook Inc. Mark Zuckerberg posted a statement on his Facebook profile on Wednesday, outlining steps that the company has already taken and the ones that are planned to tackle the scandal involving data firm Cambridge Analytica's privacy breach. "We have a responsibility to protect your data, and if we can't then we don't deserve to serve you," Zuckerberg said.

In the post, Zuckerberg stated that the social network has been introducing measures to prevent privacy breach since 2007. The most important privacy policy update on Facebook was made in 2014, he underlined, when it was made "dramatically" harder for apps to access personal data across the network. After learning in 2015 that a Cambridge University researcher Aleksandr Kogan has shared private information from Facebook users with Cambridge Analytica, the social network banned Kogan's app and requested proof that the data was deleted, which was provided, the statement said.

When it comes to further steps to be taken to protect users' privacy, Zuckerberg vowed to "investigate all apps that had access to large amounts of information" and restrict access to personal data to developers. Additionally, it will be made easier for users to see which apps they have allowed access to their data, as well as to revoke the permissions.

"We will learn from this experience to secure our platform further and make our community safer for everyone going forward," Facebook's CEO concluded.

Right after the announcement, Facebook's shares traded close to 2% higher. At 8:46 pm CET, the shares were up 0.74%.

Breaking the News / NI