Ask anyone who the world’s all-time richest person is and you’ll probably hear Bezos, Mark Zuckerberg, Gates or Warren Buffett - but that is of course, wrong.
Social media giant's latest transparency report shows that government demands for user information hit a new high, led by the US, followed by India, the UK, Germany and France.
Lawmakers scrutinised social media conglomerate over past scandals in which user data was exploited by political firms.
Zuckerberg took pains to reassure lawmakers that his company won't move forward with Libra, the digital currency project of Facebook, without explicit approval from all US financial regulators.
The moves add to a series of measures from the leading social network since 2016, when foreign entities were prominently involved in social media in the US campaign.
US, UK and Australian officials have asked Facebook access to read private messages as the social medium plans to extend its privacy to Messenger and Instagram Direct.
The app, which like Snapchat and Instagram is centred around photos, is more focused on keeping users connected with small groups of friends,
Vice president of augmented and virtual reality at Facebook explains how thought-commanded interactions might dramatically alter how people experience augmented or virtual reality scenarios, which currently feature hand-held controls.
US regulators have approved a $5 billion penalty to be levied on Facebook to settle a probe into the social network's privacy and data protection lapses, the Wall Street Journal reported.
Facebook said in a statement it was introducing a "one-strike" policy for use of Facebook Live, temporarily restricting access for people who have faced disciplinary action for breaking the company's most serious rules anywhere on its site.
The social media firm set aside $3bn to deal with an expected US Federal Trade Commission fine, which could eventually amount to $5bn. But the controversies have had little impact on the tech behemoth’s bottom line.
The one-time charge slashed Facebook's first-quarter net income considerably, although revenue grew by 25 percent in the period. The FTC has been looking into whether Facebook broke its own 2011 agreement promising to protect user privacy.
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