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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Meta profits from kids’ data, FTC recommends prohibition.

Photo Credit: Alamy Photo Credit: Alamy
Photo Credit: Alamy Photo Credit: Alamy

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On Wednesday, the U.S. Federal Trade Commission accused Meta’s (META.O) Facebook of fooling parents about kid safety and recommended tightening a privacy agreement to prevent benefiting from kids’ data.

The FTC alleged Facebook misled parents about their control over Messenger Kids app connections and app developers’ access to users’ private data, breaking a 2019 privacy agreement.

Facebook’s virtual reality company cannot benefit from under-18 data under FTC regulations. Facial recognition would be limited.

Post-announcement Meta shares fell 2%.

Andy Stone, Meta spokesperson, tweeted, “political stunt.”

“We will vigorously fight this action and expect to prevail,” he said.

Wednesday changes the 2019 agreement. Facebook responds in 30 days. The corporation can then appeal commission judgments.

“Facebook has repeatedly violated its privacy promises,” said FTC Bureau of Consumer Protection Director Samuel Levine. “The company’s recklessness has put young users at risk, and Facebook needs to answer for its failures.”

Facebook settled FTC privacy lawsuits twice.

First, 2012. Facebook settled data misrepresentation lawsuits in 2019 for a record $5 billion. 2020 finished that order.

 


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