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Facebook and Instagram will defend against claims they misused their market power to block an Australian marketing startup from their platforms, saying the company - which sends scheduled social media posts for clients -- had breached their terms of use.
Google and Facebook should be regulated given the potential they have to wield their monopoly powers in ways that would harm consumers, the ACCC said in its highly anticipated preliminary report into the digital platforms.
The US securities regulator is reportedly looking into Facebook's disclosures to investors about the harvesting of user data by political research firm Cambridge Analytica, as the company faces the threat of a privacy class action in Australia over the data debacle.
IMF Bentham is considering funding a privacy class action against Facebook for allowing political research firm Cambridge Analytica to harvest information from the Facebook accounts of over 311,000 Australians.
Facebook has struck back at calls for regulation of digital platforms that distribute news content, saying consumers stand to lose from regulatory meddling.
The Privacy Commissioner on Thursday opened an investigation of Facebook on the heels of confirmation by the social media giant that the data of over 300,000 Australian users may have been improperly harvested.
The head of Australia's consumer regulator says the agency will look at whether Facebook is misleading users about how it collects and uses their data, in light of revelations that millions of Facebook users unknowingly had their data harvested by political research firm Cambridge Analytica.