Facebook Warns Investors They Expect To Find 'Additional Incidents' of User Data Abuse (siliconvalley.com)

Facebook earned $4.99 billion in the first three months of 2018 (on sales of $11.97 billion). But their quarterly report included some new warnings, according to the Bay Area Newsgroup: In its 141-page filing with the Securities and Exchange Commission Thursday, Facebook -- like all public companies -- warned of risk factors, the official version of what might keep CEO Mark Zuckerberg up at night. Chief among them is the possibility of other Cambridge Analyticas. "We anticipate that our ongoing investments in safety, security, and content review will identify additional instances of misuse of user data or other undesirable activity by third parties on our platform," Facebook said in its 10-Q filing. It is a point that Zuckerberg made again and again during his Congressional testimony earlier this month.

What's more, Facebook knows it won't catch everything, even though the company is investigating and auditing away after revelations that political data consulting firm Cambridge Analytica accessed the information of up to 87 million Facebook users without permission... "We may also be notified of such incidents or activity via the media or other third parties."

Comments

Hope other companies get nailed too

[Anonymous Coward]

Was looking at Discord (extremely popular with Gamers), thing not only calls home but leaks data on the local user. There's _nothing_ in their client that says it happens. Like Twitch, their entire API is built to be harvested while locking down the client from casual perusal. It's also _very_ tightly coupled with Cloudflare.

Discord themselves laughed at the findings.

tl;DR - Sooner these companies are fined, the better for everyone. But I'm anon and this is slashdot. You'll never see this thanks to the new mods.