Facebook could be facing a massive fine following its 'biggest ever' hack that affected 50 million users, it has been claimed.
Tough new GDPR data protection regulations, which came into force earlier this year, could allows affected users in the EU to file a civil claim, while in the US, the first class action lawsuits have already been filed by users.
Facebook's lead regulator in the European Union, the Irish Data Protection Commissioner (DPC), today began an investigation into a massive cyberattack on the social networking site disclosed by the company last week.
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Under the new GDPR European privacy regulations, which came into effect in May, breaking privacy laws can result in fines of up to 4 percent of global revenue or 20 million euros, whichever is higher, as opposed to a few hundred thousand euros previously.
Facebook said on Friday that hackers had stolen login codes that allowed them to access nearly 50 million Facebook accounts, its worst-ever security breach given the unprecedented level of potential access.
'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 said in a statement.
Facebook spokeswoman Katy Dormer declined comment on the agency's review.
Under the new GDPR European privacy regulations, which came into effect in May, breaking privacy laws can result in fines of up to 4 percent of global revenue or 20 million euros, whichever is higher, as opposed to a few hundred thousand euros previously.
As a result, the social network could potentially be hit with a whopping £1.25bn/$1.63bn fine for breaching the Europe’s General Data Protection Regulation (GDPR) - although the actual fine is likely to be smaller.
The DPC, which regulates a number of U.S. multinationals with European headquarters in Dublin, said Facebook informed it that their own internal investigation is ongoing and that the company continued to take remedial actions to mitigate the potential risk to users.
Facebook said on Tuesday that investigators had determined that the hackers did not access other sites that use the social networking site's single sign-on.
The U.S. Federal Trade Commission on Wednesday advised Facebook users to consider changing their passwords and be on the alert for 'imposter scams' targeting them with data stolen from the social networking site.
'If someone calls you out of the blue asking for money or personal information, hang up,' FTC attorney Lisa Weintraub Schifferle said in an alert posted on the agency's website.
Some security experts, including a former Facebook executive, said the company may have painted a worst-case scenario when it disclosed the attack on Friday to ensure compliance with the strict new European Union privacy rules.
FACEBOOK FACES CLASS ACTION LAWSUIT IN WAKE OF 'WORST EVER' DATA BREACH
Facebook last week revealed that it had been hit by a data breach that gave hackers complete access to 50 million users' profiles.
The firm then logged an additional 40 million users out of their accounts as a security measure, bringing the total number of users who were possibly affected to 90 million.
It didn't take long before the social media giant was hit with a class-action lawsuit.
Facebook has been hit with a lawsuit filed Sept. 28th in a California court on behalf of the 50 million users whose 'PII,' or personally identifiable information,' was exposed as a result of the hack.
The lawsuit defines PII as names, birthdates, hometowns, addresses, locations, interests, relationships, email addresses, photos and videos - all of which is information commonly shared with Facebook.
Facebook is named in a lawsuit filed in California on behalf of the 50 million users whose 'PII,' or personally identifiable information,' was exposed as a result of the hack
The plaintiffs, which are Carla Echavarria of California and Derrick Walker of Virginia, claim Facebook's inability to safeguard user data left them vulnerable to identity theft and was an act of negligence.
The lawsuit alleges Facebook 'allowed hackers and other nefarious users to take over user accounts and siphon off Personal Information for unsavory and illegal purposes.'
They're now suing for statutory damages and penalties.
The lawsuit also seeks to represent 'all persons who registered for Facebook accounts in the United States and whose PII was accessed, compromised, or stolen from Facebook in the September 2018 Data Breach.'
It's likely that more plaintiffs will sign onto the class-action lawsuit in time.
Plaintiffs say in the lawsuit that Facebook's Cambridge Analytica scandal served as a precursor for its future 'negligence'.
'[Facebook] knew its data security measures were grossly inadequate by, at the absolute latest, March 2018 when the Cambridge Analytica matter came to light, exposing Facebook’s lax and inadequate approach to data security,' according to the court document.
'At that time, Facebook was on notice that its systems were extremely vulnerable to attack, facts [Facebook] already knew given its previous exposures and security problems.'
GDPR imposes steep penalties if companies fail to follow rules that include a requirement that they disclose breaches within 72 hours of discovery.
That is a tight window that security experts say does not give investigators adequate time to determine the impact of the breach.
Facebook's latest vulnerability had existed since July 2017, but the company first identified it on Tuesday of last week.
Link hienalouca.com
https://hienalouca.com/2018/10/04/could-facebook-be-forced-to-compensate-users-following-its-massive-hack/
Main photo article Facebook could be facing a massive fine following its ‘biggest ever’ hack that affected 50 million users, it has been claimed.
Tough new GDPR data protection regulations, which came into force earlier this year, could allows affected users in the EU to file a civil claim, while in...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves US News HienaLouca
https://i.dailymail.co.uk/1/2018/10/03/22/4746004-6237395-image-a-45_1538601146214.jpg
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