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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
- The Rise of Private Credit and the Need for Flexible Loan Servicing Read more
- 88% of UK Customers Would Switch Banks Due to Financial Crime Failures, ThetaRay Report Finds Read more
- Axiology and Profitus Set Baltic Record with €3.4M Digital Bond Read more
- Equifax and Mifundo Open Access to Brazilian Credit Data for European Banks Read more
- SGX FX Adopts Chainlink to Make its Premium OTC FX Data Available to Thousands of On-chain Apps Read more
88% of UK Customers Would Switch Banks Due to Financial Crime Failures, ThetaRay Report Finds
ThetaRay, a global leader in AI financial crime compliance, today released The ThetaRay UK Banking & Fintech Trust Report 2026. The findings, launchedon the eve of The Global RegTech Summit, reveal a systemic shift in consumer behavior: 88% of UK customers are prepared to abandon their primary financial institutions over failures in preventing money laundering or terrorist financing.
Axiology and Profitus Set Baltic Record with €3.4M Digital Bond
Axiology, the financial technology company specialising in distributed ledger technology (DLT) infrastructure for capital markets has registered a record-breaking digital bond, funded through the leading crowdfunding platform in Lithuania – Profitus. The bond was registered by Axiology and distributed through Profitus, closing at a final value of €3.4 million. It is secured by shares in companies owned by Lithuanian Shark Tank investor Gediminas Kvietkauskas.
Equifax and Mifundo Open Access to Brazilian Credit Data for European Banks
Mifundo, a pan-European credit data platform, has integrated credit data from Equifax BoaVista, subsidiary of Equifax Inc. in Brazil, enabling European banks to access verified Brazilian credit information as part of their credit assessment processes.
Triathlon Ireland Reduces Financial Reporting From Days to Minutes with AccountsIQ
Triathlon Ireland, the national governing body of triathlon and multi-sport in Ireland, hosting 250+ events nationwide and supporting 20,000 athletes has automated its financial reporting with AccountsIQ’s cloud accounting software.
Souhoola Opens Its New Branch at City Stars, Expanding the Reach of Its Financial Services Across the Egyptian Market
Souhoola, Egypt’s leading consumer finance company and Buy Now, Pay Later (BNPL) platform, announced the opening of its new branch at City Stars on May 15, 2026, as part of the company’s expansion strategy aimed at strengthening its presence and reaching a broader customer base through key locations and major commercial hubs across Egypt.
Sygnum Completes First Live AI-Agent Driven Digital Asset Transactions by a Regulated Swiss Bank
Sygnum, a global digital asset banking group, today announced it has become the first Swiss regulated bank to use an AI agent to test live digital asset market transactions, with the client retaining custody, consent and control at every step. This is the latest initiative from AI@Sygnum which leads the development, integration and governance of agent-driven workflows across the group globally.
AS Colour Partners with Adyen to Complete the Global Customer Picture
Adyen, the global financial technology platform of choice for leading businesses, has announced its partnership with AS Colour, a designer and wholesaler of premium "blank" apparel, to streamline its global payment infrastructure and enhance the digital customer experience. Since partnering with Adyen in October 2025, AS Colour has consolidated multiple legacy payment providers into one global commerce platform, connecting its payments across all operating regions.
The Rise of Private Credit and the Need for Flexible Loan Servicing
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88% of UK Customers Would Switch Banks Due to Financial Crime Failures, ThetaRay Report Finds
ThetaRay, a global leader in AI financial crime compliance, today released The ThetaRay UK Banking & Fintech Trust Report 2026. The findings, launchedon the eve of The Global RegTech Summit, reveal a systemic shift in consumer behavior: 88% of UK customers are prepared to abandon their primary financial institutions over failures in preventing money laundering or terrorist financing.
Axiology and Profitus Set Baltic Record with €3.4M Digital Bond
Axiology, the financial technology company specialising in distributed ledger technology (DLT) infrastructure for capital markets has registered a record-breaking digital bond, funded through the leading crowdfunding platform in Lithuania – Profitus. The bond was registered by Axiology and distributed through Profitus, closing at a final value of €3.4 million. It is secured by shares in companies owned by Lithuanian Shark Tank investor Gediminas Kvietkauskas.
Equifax and Mifundo Open Access to Brazilian Credit Data for European Banks
Mifundo, a pan-European credit data platform, has integrated credit data from Equifax BoaVista, subsidiary of Equifax Inc. in Brazil, enabling European banks to access verified Brazilian credit information as part of their credit assessment processes.
SGX FX Adopts Chainlink to Make its Premium OTC FX Data Available to Thousands of On-chain Apps
SGX FX, a leading technology partner for the global institutional FX ecosystem, has adopted Chainlink, the industry-standard oracle platform, to broaden access to its OTC FX data and support greater flexibility in how institutional participants consume trusted market information.
Triathlon Ireland Reduces Financial Reporting From Days to Minutes with AccountsIQ
Triathlon Ireland, the national governing body of triathlon and multi-sport in Ireland, hosting 250+ events nationwide and supporting 20,000 athletes has automated its financial reporting with AccountsIQ’s cloud accounting software.
MoneyHash Names Hwan Lee Regional Director for Africa
MoneyHash, the payment orchestration platform for emerging and global markets, has appointed Hwan Lee as its new Regional Director for Africa. The strategic hire reflects MoneyHash’s continued expansion across high-growth African markets and its broader vision of helping businesses scale and manage complex payment operations across providers, methods, and markets in emerging economies.