Breaking News
FTC Proposes Prohibition on Facebook Monetizing Data from Users Under 18
The Federal Trade Commission (FTC) has proposed changes to its 2020 privacy order with Facebook, now Meta, alleging that the company failed to fully comply with the order, misled parents about their ability to control their children’s communication through the Messenger Kids app, and misrepresented the access it provided some app developers to private user data. Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, said, “Facebook has repeatedly violated its privacy promises. The company’s recklessness has put young users at risk, and Facebook needs to answer for its failures.”
As part of the proposed changes, Meta would be prohibited from profiting from data collected from users under the age of 18, including through its virtual reality products. The company would also be subject to other expanded limitations, such as in its use of facial recognition technology, and required to provide additional protections for users.
This marks the third time the FTC has taken action against Facebook for allegedly failing to protect users’ privacy. The proposed changes to the 2020 order would apply to Facebook and Meta’s other services, such as Instagram, WhatsApp, and Oculus. The FTC has formally asked Meta to respond within 30 days to the proposed findings from the agency’s investigation.
The proposed order modifications are based on the agency’s authority under Section 5(b) of the FTC Act and Commission Rule 3.72, which allow the Commission to reopen an administrative case and modify a final order when the Commission finds “changed conditions of fact or law or [when the] public interest” may require such action.
Companies In This Post
- Pocket Network Is Pioneering ‘DePIN for Data’ Read more
- Kea Rolls Out Local Payouts in 85+ Currencies Read more
- Friendly Fraud Expected to Increase by 25% Between Thanksgiving and Cyber Monday, Warns ACI Worldwide Read more
- Tide to Launch Connected Insurance for SMBs Read more
- Market Backs 3-Year LIMOSS/Vitesse FCP Contract to Improve Treasury Management and Claims Payments in the Lloyd’s Market Read more
GNOMI Launches the Only ‘Finance Mode’ with Real-Time Global Earnings Calls and Generative Market Intelligence
GNOMI, the AI platform redefining how people access and act on real-time information, today unveiled Finance Mode - the first agentic AI experience for live, multilingual global market coverage.
Revolut Completes Fundraising Process Establishing $75 Billion Valuation
Revolut, the global fintech leader with over 65 million customers worldwide, has today announced the completion of a share sale, valuing the company at $75 billion
British Business Bank Publishes Five-Year Strategic Plan to Deliver Step Change in Smaller Business Finance
The British Business Bank responds to an updated mandate from the UK Government by publishing a five-year strategic plan for smaller business finance
As Government Launches SME Lending Review, New Tech Could Unlock £5bn in Credit Annually by Halving Declined Applications – FXE and CFIT-Led Coalition
SMEs in the UK miss out on an estimated £5 billion in potential access to credit each year according to CFIT
Wio Bank Launches Wio Family, the UAE’s First Shared Banking Experience for Families
Wio Bank has launched Wio Family, the UAE’s first fully shared banking experience – and a movement that rethinks how families save, spend, and plan together
Intuit QuickBooks Goes Live with Open Banking in Australia, Powered by SISS Data Services
Intuit Australia (Intuit) has engaged SISS Data Services (SISS) as an outsourced service provider to facilitate open banking data feeds for Intuit’s QuickBooks customers across Australia.
Standing Against AI-Fueled Crime, VIALET and AMLYZE Call for Industry-Wide Coordination
The Black Friday season remains one of the peak periods for digital fraud, with statistics showing that 4.6% of all attempted e-commerce transactions during last year’s Cyber Five window were suspected to be fraudulent. In response to this escalating threat, VIALET and its financial crime prevention partner AMLYZE are joining forces by sharing intelligence, tracking industry signals, and equipping businesses with advanced tools to strengthen fraud prevention across the payments ecosystem.
Pocket Network Is Pioneering ‘DePIN for Data’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Kea Rolls Out Local Payouts in 85+ Currencies
Kea has launched global Local Payouts in 85+ currencies for businesses that move money across borders
Friendly Fraud Expected to Increase by 25% Between Thanksgiving and Cyber Monday, Warns ACI Worldwide
Friendly fraud’ is expected to increase by 25% between Thanksgiving and Cyber Monday, according to an analysis of billions of transactions by ACI Worldwide
Tide to Launch Connected Insurance for SMBs
Tide is launching Tide Insurance for SMBs, enabling Tide members to access tailored business insurance directly through the Tide app
Market Backs 3-Year LIMOSS/Vitesse FCP Contract to Improve Treasury Management and Claims Payments in the Lloyd’s Market
The Lloyd’s Market Association (LMA), LIMOSS, and Vitesse have announced the signing of a new contract to continue the market-wide FCP Service for a minimum of three years
Wise Becomes First Non-Bank to Go Live on Japan’s Zengin System via API and Settle Directly With Bank of Japan
Wise has successfully completed its direct connection to the Zengin Data Telecommunication System ("Zengin System"), Japan's domestic payment network
GNOMI Launches the Only ‘Finance Mode’ with Real-Time Global Earnings Calls and Generative Market Intelligence
GNOMI, the AI platform redefining how people access and act on real-time information, today unveiled Finance Mode - the first agentic AI experience for live, multilingual global market coverage.