The FBI and the SEC Are Also in the Facebook Probe Now
Facebook saw its shares modestly drop in after-hours trading on Monday as the social media giant faces more hot water over data sharing.
The company’s federal probe of sharing user data with political mining firm Cambridge Analytica now includes the FBI, the SEC, and the Justice Department, according to the Washington Post.
Citing five people familiar with the situation who remain unidentified, the Post reported that representatives from these agencies have joined the Federal Trade Commission in the inquiry.
According to the Post, the probe will investigate why Facebook didn’t inform users or investors earlier when it learned in 2015 that Cambridge Analytica had improperly access the personal data of tens of millions of users on Facebook.
Facebook confirmed to The Associated Press that it has indeed received questions from these agencies and is cooperating with the inquiry.
“We are cooperating with officials in the U.S., U.K. and beyond,” said a Facebook spokesman.
“We’ve provided public testimony, answered questions, and pledged to continue our assistance as their work continues.”
Disclaimer: We have no position in Facebook, Inc. (NASDAQ: FB) and have not been compensated for this article.