Facebook could face more than $1 billion in fines for its latest privacy breach, which exposed at least 50 million user accounts, reports Digital News Daily, which added that “European regulators are considering a fine in the neighborhood of $1.63 billion, The Wall Street Journal reported over the weekend.

“Facebook’s lead European privacy regulator, Ireland’s Data Protection Commission (DPC), made its concerns public, on Sunday.

“In a tweet, the DPC said it is “awaiting from Facebook further urgent details of the security breach impacting some 50m users, including details of EU users which have been affected, so that we can properly assess the nature of the breach and risk to users.””

The post also stated that after first learning about the breach on September 25, Facebook reportedly “fixed the vulnerability and informed law enforcement.

“Facebook has reset the access tokens of the approximately 50 million accounts known to be affected by the hack, and is currently resetting access tokens for another 40 million accounts that have been subject to a “View As” look-up in the last year.

“Facebook has also temporarily turned off the “View As” feature while it conducts a thorough security review.”

More here.

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