Twitter warns of massive fine over alleged misuse of personal information

Twitter warns of massive fine over alleged misuse of personal information

Twitter warns of massive fine over alleged misuse of personal information

The Federal Trade Commission sent a complaint last week over the social network's use of the data, including that of 14m people in the United Kingdom, between 2013 and 2019. The probe may lead to a "probable loss" of $150 million to $250 million, the San Francisco-based company said. The consent order required Twitter to establish and maintain a comprehensive security program and banned the company from misleading consumers about its security and privacy practices. Under the settlement, the company also had to honor users' privacy choices and faced fines of as much as $16,000 per violation of the order in the future, the FTC said at the time. The stock has gained 14% this year. "Following standard accounting rules we included an estimated range for settlement".

Twitter received the FTC's complaint on July 28.

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In more simple terms, this means that the complaint is not related to last month's hack of prominent accounts, but actually related to the a matter of two-factor authentication where users provide phone numbers and email addresses that were in turn used for ad targeting purposes.

Social media giant Twitter warned on Monday that it could be fined hundreds of millions of dollars for allegedly misusing users' personal data for advertising purposes.

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The US Department of Justice has now charged the individuals with hacking Twitter. Hackers accessed the direct messages linked to 36 of those accounts, and downloaded the personal data from seven of them, Twitter said.

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