In 2014 a Cambridge University researcher named Aleksandr Kogan made a quiz app on facebook. After the app getting popular on facebook Kogan collects more than 2 lakh 70 thousands of people’s information related to their Facebook account.
Kogan then handed over the data to Cambridge Analytica. It has been in the news that 5 crore user data was collected by Cambridge Analytica, the company also handling two campaigns for Donald Trump during his election run.
In 2015 journalists reported that Cambridge Analytica has shared user data. After knowing this Facebook banned Kogan’s app and demanded that Kogan and Cambridge Analytica has deleted all improperly acquired data.
But from sources, it is also known that Facebook has secretly given the permission to Cambridge Analytica.
And recently news channels reported that Cambridge Analytica has not deleted user data yet. Advertisers, marketers, users started showing their anger on Facebook for leaking user data. But it was still not confirmed what happened actually.\
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Mark Zuckerberg on Facebook Cambridge Analytica scandal
On 22nd March 2018 Facebook co-founder and chief executive Mark Zuckerberg said that a “leak of user information” happen. And he was really sorry for this breach of trust.
Advertisers said “Enough is Enough”
As Facebook fails to protect user data, some major advertisers may spend money elsewhere now.
ISBA a trade body of major UK advertisers, will meet with Facebook, and be going to discuss the user information security. And if Facebook will not provide assurance of user data privacy then they will choose other platforms for advertising.
The effect on Shares
Even Facebook shares also drops drastically after the “Data Breach” came into news.
A spokesperson of Information Commissioner’s Office (ICO) said they will search Cambridge Analytica’s office soon. As the search warrant has been adjourned by High Court, so after getting the permission ICO collect all the data and investigate accordingly.