According to Reuters, the Irish Data Protection Commissioner (DPC) announced on Wednesday, October 3, that it has launched an investigation into the breach that exposed the data of about 50 million Facebook users. Facebook found that attackers were able to take control of user accounts through a function within the platform’s code.
“In particular, the investigation will examine Facebook’s compliance with its obligation under the General Data Protection Regulation (GDPR) to implement appropriate technical and organizational measures to ensure the security and safeguarding of the personal data it processes,” the DPC announced in a statement.
Under the GDPR, companies that fail to safeguard their users’ data could face a maximum fine of €20 million (US$23 million), or 4% of a firm’s global annual revenue for the prior year, whichever is higher.
Facebook has already informed the DPC that their own investigation is ongoing, and that the company will continue to take actions to lessen the potential risk to users. And earlier this week, a company spokeswoman said the company plans to answer all of the DPC’s questions, as well as keep regulators informed of further developments.
In the meantime, the vulnerability that caused the breach has been fixed, and Facebook added that it reached out to authorities when the vulnerability was discovered. More than 90 million users had to log out of their accounts as a result of the breach, which has been described as a typical measure taken with compromised accounts.
“We’re taking it really seriously,” Facebook Chief Executive Mark Zuckerberg told reporters in a conference call at the time. “We have a major security effort at the company that hardens all of our surfaces.”
Zuckerberg added, “I’m glad we found this. But it definitely is an issue that this happened in the first place.”
Full Content: PYMNTS
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI