Facebook on Friday warned users that investigations into previously accessed information may lead to more reports of third-party breaches. In its quarterly report to the United States Security and Exchanges Commission, the social media company said such probable discoveries may negatively impact it brand.
On April 11, Facebook Chief Executive Officer Mark Zuckerberg had testified before a committee of the United States Senate in the case of British political consulting firm Cambridge Analytica harvesting the private data of 87 million Facebook users.
Cambridge Analytica was accused of using the information of 87 million Facebook users to bolster United States President Donald Trump’s campaign before the 2016 election.
Facebook, however, did not identify Cambridge Analytica in its quarterly report. “In addition to our efforts to mitigate cybersecurity risks, we are making significant investments in safety, security, and content review efforts to combat misuse of our services and user data by third parties,” the report said. Such investments will include investigations and audits of platform applications.
The statement said: “As a result of these efforts, we anticipate that we will discover and announce additional incidents of misuse of user data or other undesirable activity by third parties. The discovery of the foregoing may negatively affect user trust and engagement, harm our reputation and brands, and adversely affect our business and financial results.”
The report said such probable discoveries may expose the company to more lawsuits and monetary penalties which may “divert management’s time and attention, and lead to enhanced regulatory oversight”.