financetom
Business
financetom
/
Business
/
Facebook-parent Meta settles with Australia's privacy watchdog over Cambridge Analytica lawsuit
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Facebook-parent Meta settles with Australia's privacy watchdog over Cambridge Analytica lawsuit
Dec 16, 2024 5:51 PM

Dec 17 (Reuters) - Meta Platforms ( META ) has agreed to a A$50 million settlement

($31.85 million), Australia's privacy watchdog said on Tuesday, closing long-drawn, expensive

legal proceedings for the Facebook parent over the Cambridge Analytica scandal.

The Office of the Australian Information Commissioner had alleged that personal information

of some users was being disclosed to Facebook's personality quiz app, This is Your Digital Life,

as part of the broader scandal.

The breaches were first reported by the Guardian in early 2018, and Facebook received fines

from regulators in the United States and the UK in 2019.

Australia's privacy regulator has been caught up in the legal battle with Meta since 2020.

The personal data of 311,127 Australian Facebook users was "exposed to the risk of being

disclosed" to consulting firm Cambridge Analytica and used for profiling purposes, according to

the 2020 statement.

It convinced the high court in March 2023 to not hear an appeal, which is considered to be a

win that allowed the watchdog to continue its prosecution.

In June 2023, the country's federal court ordered Meta and the privacy commissioner to enter

mediation.

"Today's settlement represents the largest ever payment dedicated to addressing concerns

about the privacy of individuals in Australia," the Australian Information Commissioner

Elizabeth Tydd said.

Cambridge Analytica, a British consulting firm, was known to have kept personal data of

millions of Facebook users without their permission, before using the data predominantly for

political advertising, including assisting Donald Trump and the Brexit campaign in the UK.

A Meta spokesperson told Reuters that the company had settled the lawsuit in Australia on a

no admission basis, closing a chapter on allegations regarding past practices of the firm.

($1 = 1.5699 Australian dollars)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Lendingkart CEO calls for innovative approaches to tackle credit crunch in SME sector
Lendingkart CEO calls for innovative approaches to tackle credit crunch in SME sector
Nov 17, 2023
Lendingkart CEO Harshvardhan Lunia discussed Lendingkart's performance, highlighting the increased credit demand in the SME space during the festive season. He attributed this surge to a more celebratory Diwali season and reported substantial growth for Lendingkart.
Hearing Solutions to utilise ₹50 crore fundraise for nationwide expansion, says managing director
Hearing Solutions to utilise ₹50 crore fundraise for nationwide expansion, says managing director
Nov 20, 2023
Hearing Solutions, the company behind the Hearzap hearing care chain, has successfully secured Rs 50 crore in funding from the healthcare and life sciences-focused private equity fund of 360 One Asset Management.
IPO is a significant milestone for startups, but should not be the ultimate goal, says expert
IPO is a significant milestone for startups, but should not be the ultimate goal, says expert
Nov 16, 2023
In a discussion with CNBC-TV18, Nisha Poddar engaged with industry experts Karan Sharma (MD & Co-Head of Digital & Tech Investment Banking at Avendus Capital), Disha Singh (Co-Founder at Zouk), and Rahul Chowdhri (Partner at Stellaris Venture Partners). The conversation delved into the prevailing challenges for startups amidst a funding winter, exploring viable options and shedding light on the practicalities of deals in the startup landscape.
Experts decode the best practices India's startups need to adopt as they commit to gender parity
Experts decode the best practices India's startups need to adopt as they commit to gender parity
Nov 16, 2023
Despite women holding only 19% of corporate positions, there is a glimmer of hope in the startup landscape. The ACT's Women in India’s Startup Ecosystem report reveals that 35% of the Indian startup workforce is female. By taking targeted and timely actions, the representation of women in startups could potentially reach 50% by 2030.
Copyright 2023-2026 - www.financetom.com All Rights Reserved