Mark Zuckerberg the Chief Executive of Facebook Inc. the largest social media network on the planet, has taken ownership of the massive data breach and has apologized for the way data of 50 million users was mishandled. He also promised tough measures to be put in place for restriction of developers’ access to user information.
Governments in Europe and US have increased scrutiny after a whistleblower revealed that Cambridge Analytica a London-based political consultancy had illegally accessed user information to make fake profiles about voters in America which were used to back Trump in 2016 Presidential campaign. Zuckerberg acknowledged the mistakes and stated that the company will investigate all the apps which use the Facebook platform and also put suitable restrictions in place for bar developer access to data and additionally give all the users a tool to disable access to their data more conveniently.
Zuckerberg also stated that Facebook is open to more governmental regulations and is ready to testify before the US Congress. The recent scandal hit the investor sentiment as there were fears about deterrence of advertisers and also tougher regulations.
Christopher Wylie, the whistleblower who had triggered the scandal stated that he was ready to testify in front of US and UK legislators.