Menu
Equities Tech

Facebook shares open lower as Irish DPC launches investigation

Share this article!

Facebook shares opened in the red Thursday, following news the Irish Data Protection Commission has opened an investigation into the data breach the social media firm confirmed last week.

That news comes soon after a US woman has sued the tech giant over its part in her becoming involved in the sex trade at 15.

Facebook shares opened 1.31% lower at $160.30. The stock closed higher in the US Wednesday.

Irish DPC investigates Facebook data breach

The Irish DPC announced its investigation into the latest Facebook data breach, in a brief statement, Wednesday.

“The Irish Data Protection Commission (DPC) has today, 3 October 2018, commenced an investigation under Section 110 of the Data Protection Act 2018 into the Facebook data breach for which notification was received by the DPC on Friday 28 September,” the DPC said.

“In particular, the investigation will examine Facebook’s compliance with its obligation under the General Data Protection Regulation to implement technical and organisational measures to ensure the security and safeguarding of the personal data it processes,” the statement said.

The DPC added that Facebook is also continuing its own internal investigation into the problem that affected some 50 million users.

Mark Zuckerberg’s tech firm remains under close scrutiny with regards to its data usage practices and also its data security performance, following the Cambridge Analytica scandal earlier this year.

Facebook responds to sex trafficking accusation

Aside from the further investigation into the latest data breach experienced by the social media platform, Facebook also released a written statement to news agencies, following the news it is being sued for not doing enough to stop sex trafficking on its site.

“Human trafficking is abhorrent and is not allowed on Facebook. We use technology to thwart this kind of abuse and we encourage people to use the reporting links found across our site so that our team of experts can review the content swiftly,” a spokeswoman for Facebook said in a written statement, according to Reuters.

Add Comment

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.