Facebook (NASDAQ FB) has issued a statement about the privacy issues of the European Union. EU regulators are currently analysing the data collection methods of the social networking giants. If any error is found in the ways through which FB collects data, Facebook might end up paying a lot of fines. Facebook would also have to come up with a new form of operation in the European region.
Here in this article, we will take a closer look at some of the major problems which Facebook might be facing in relation to the privacy issues. EU have had major issues with big firms over the users’ privacy and the Facebook spat is certainly not the first of its kind.
Facebook recently voiced its own concerns in connection with EU’s investigation. Facebook (NASDAQ FB) claimed that these investigations could lead to problems for the small internet firms and consumers. It would be interesting to look at all this in detail.
Facebook Inc: EU Privacy Issues
Facebook has already been found guilty, according to Belgium’s independent investigations. Facebook firmly denied any wrongdoings and claimed that their changes have always been in line with the policies in place. Other countries, namely France,Germany, Spain and Italy, launched their own independent investigation.
Facebook has claimed that these privacy authorities have been undermining the European law. These investigations might also have an effect on the service which FB provides to the users in these given countries, as FB claims that they might be late in providing the given services.
Facebook Inc (NASDAQ FB) Business News
Facebook (NASDAQ FB) remains a great buy in the current market conditions. The social networking giants are currently trading at the levels of . With the analysts projecting good valuations,it seems prudent to hold this stock.
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