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Facebook tried to fight $5B FTC fine, is ready to fight antitrust probes

Looking at this from a business perspective Facebook would be failing its shareholders if they did not contest a $5 billion fine...: Facebook's $5 billion settlement with the Federal Trade Commission this summer smashed records: the FTC had never before fined any company such a hefty amount. But even though critics immediately lambasted the deal as a comparative slap on the wrist for Facebook, which earned about $56 billion in revenue in 2018, newly released documents sh...

Hundreds of millions of Facebook users’ phone numbers found lying around on the internet

Maybe time to invest in an early warning system like CybelAngel...? TechCrunch reports that a security researcher stumbled across an exposed server on the internet containing databases with a total of more than 419 million records related to Facebook users. According to TechCrunch’s reporting, each database record contains a user’s unique Facebook account ID (from which it’s possible to determine a user name) and phone numbers attached to the account. The treasure trove o

Facebook Drops Default Facial Recognition Tag Suggestions

Perhaps FB is beginning to understand the public's suspicion of facial recognition?... [...] Facebook is giving users more control over a facial recognition feature used by the company to help identify, or Tag, people on its platform. Starting Tuesday, the company said it would allow its users to opt-out of the Tag Suggestions feature, while at the same time the company is attempting to help users better understand what the feature does. Facebook said it will replace the

A week in security (July 22 – 28)

Last week on Malwarebytes Labs, we offered an extensive analysis into the Malaysian Airlines Flight 17 investigation, updated users on the newest feature set to AdwCleaner 7.4.0 (it now detects pre-installed software), and provided a deep dive into Phobos ransomware. We also broke down the latest privacy cautions regarding the popular app, FaceApp. In addition, we looked at an interesting real-life shoe-shining scam that was noticed online, and gave a comprehensive breakd

New Facebook ad reporting tool launches in UK

Last year, well-known consumer advice expert Martin Lewis decided to take Facebook to court for defamation. The cause? Multiple bogus adverts placed on the social network featuring his likeness, appearing via the ad network Outbrain. As a trusted face in consumer causes, scammers bolting Lewis’ face onto rogue ads would always be a money spinner. This would, of course, have the knock-on effect of potentially damaging his reputation, especially with tales of victims losing as

A week in security (July 15 – 21)

Last week on Malwarebytes Labs, we took an extensive look at Sodinokibi, one of the new ransomware strains found in the wild that many believe picked up where GandCrab left off. We also profiled Extenbro, a Trojan that protects adware; reported on the UK’s new Facebook reporting tool, homed in on new Magecart strategies that render them ‘”bulletproof;” identified challenges faced by the education sector in the age of cybersecurity; and looked at how older generations keep up

Changing California’s privacy law: A snapshot at the support and opposition

This month, the corporate-backed, legislative battle against California privacy met a blockade, as one Senate committee voted down and negotiated changes to several bills that, as originally written, could have weakened the state’s data privacy law, the California Consumer Privacy Act. Though the bills’ authors have raked in thousands of dollars in campaign contributions from companies including Facebook, AT&T, and Google, records portray broader donor networks, which

Facebook May Face $5 Billion FTC Fine for Data Misuse

Ouch!...: [...] The social-media giant in a Wednesday release for its Q1 2019 earnings said that it was setting aside $3 to $5 billion as a contingency expense “in connection with” the FTC’s investigation of its user-data practices. “In the first quarter of 2019, we reasonably estimated a probable loss and recorded an accrual of $3 billion in connection with the inquiry of the FTC into our platform and user-data practices, which accrual is included in accrued expenses

Facebook’s Clegg: Politicians must regulate to avoid ‘Balkanized’ internet

More analysis of what Facebook is calling for...: Facebook has a message for global policymakers: It’s time to regulate. But a senior official from the world’s largest social network called on politicians in Europe, the United States and elsewhere to find an international consensus on how to police the digital world. If one could not be found, the online world may soon become divided along national borders as lawmakers from different countries take digital rule-making

European Parliament approves overhaul of online copyright rules

The European Parliament has passed its copyright reform act at last. After more than two years of lobbying that involved everyone from Lady Gaga to the head of YouTube, EU lawmakers voted on Tuesday to approve the controversial overhaul with 348 votes in favor and 274 against. The outcome will subject platforms like YouTube and Facebook to a set of new obligations to strike licensing deals that will be put to the test in coming months as EU countries transpose the direc...