Facebook

Cambridge Analytica Suspends CEO For Facebook Data Scandal

Why Facebook Could Care Less About Payments

Cambridge Analytica has suspended CEO Alexander Nix effective immediately until it completes a full investigation of his actions regarding the Facebook data scandal.

According to The Associated Press, the company’s board cited comments Nix made to an undercover reporter for Britain’s Channel 4 News for its decision to suspend him.

The board said that Nix’s comments “do not represent the values or operations of the firm and his suspension reflects the seriousness with which we view the violation.”

The U.K.-based company has been accused of helping Trump win the 2016 presidential election by improperly using information from more than 50 million Facebook accounts. While the company denies any wrongdoing, Britain's information commissioner, Elizabeth Denham, is seeking a warrant to search the company’s servers.

In the meantime, Britain’s Channel 4 News has been airing footage from a secretly recorded meeting one of its reporters had with Nix.

The clips show Nix admitting his firm played a major role in securing Donald Trump’s victory in the 2016 U.S. presidential election, including “all the data, all the analytics, all the targeting.”

Nix also said the company used emails with a “self-destruct timer” during the campaign to make its role more difficult to trace.

“There’s no evidence, there’s no paper trail, there’s nothing,” he said.

The U.K. parliamentary media committee has also asked Facebook CEO Mark Zuckerberg to give evidence in an investigation into the scandal.

Its chairman, Damian Collins, said that his group has repeatedly asked the company how it uses data and that Facebook officials “have been misleading to the committee,” adding that it “is now time to hear from a senior Facebook executive with the sufficient authority to give an accurate account of this catastrophic failure of process.”

Denham said she is also investigating Facebook and has asked it not to pursue its own audit of Cambridge Analytica’s data use, which she says the social media company has agreed to.

——————————

NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

TRENDING RIGHT NOW