PYMNTS

JANUARY 10, 2020

Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. It eventually entered that field itself, and then it became a social media platform. It’s teamed up with a financial plan adviser to identify possible investors.

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SEPTEMBER 21, 2020

In a bit of high-tech saber-rattling, Facebook is threatening to pull the plug on its social media platform in the European Union if a controversial decision by Irish regulators is allowed to stand. according to Metro. according to Metro. government.

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AUGUST 19, 2019

A draft executive order from the White House might lay out how Big Tech firms curate and present their data. In addition, the draft order, which is titled “Protecting Americans from Online Censorship,” claims the White House has received more than 15,000 complaints tied to social media firms’ alleged censure of political discourse.

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JULY 30, 2018

India is mulling the idea of requesting eCommerce and social media companies to only store customer data locally, which could impact the likes of Amazon and Facebook and its WhatsApp messaging service in the country. Reuters reported the government would move to offer incentives to store data locally in India.

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JUNE 26, 2019

Senate panel examined the ways social media giants — marquee names among them such as Google and Facebook — interact with users. Proposed protections would curtail at least some use of data with the intent to suggest content. Algorithms and artificial intelligence — artfully applied, but for less-than-ideal purposes?

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MAY 30, 2024

The world’s leading financial institutions and regulators come together at XLoD to discuss the future of non-financial risk and control. Comey as well as topical discussions spanning regulatory risk, market abuse, and leveraging technology in automation (RPA), data analytics and ML/AI. What is XLoD Global?

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JUNE 23, 2020

The German Federal Court has ordered Facebook to comply with an order from the country’s antitrust regulator and stop data collection of users in the country, Reuters reported Tuesday (June 23). At that time, Mundt said that the Federal Cartel was confident it had the power to impose regulation.

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JANUARY 13, 2020

It’s a new year, and in Europe, an expansion of scrutiny and laws governing data sharing. The dawn of 2020 brought a spate of new rules governing data collection and use. Sites are also required to offer free services that inform users when data is being collected and how it may be used. In India, Too. A California CFPB?

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DECEMBER 16, 2018

Facebook , the beleaguered social media giant that is facing intense scrutiny into its business practices, could be on the hook for a multibillion dollar fine, reported CNN. It confirmed to CNN late last week that it started a “statutory” inquiry into the social media giant after it received several reports of data breaches.

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FEBRUARY 5, 2020

As we know, mostly anonymous corporations have been collecting consumer data online for years, usually without explicit permission, selling it or using it for ad retargeting and personalization. Then, there are the huge data breaches that just keep happening, increasingly to companies with high levels of consumer trust.

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FEBRUARY 28, 2019

The New York State Department of Financial Services has requested information from Facebook regarding apps that were sending sensitive personal data to the site, according to a report by The Wall Street Journal. The regulator is stepping up an investigation after the report showed the apps sent data like body weight and menstrual cycles.

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MARCH 31, 2020

The necessity of such regulations is undeniable, however, as lagging data standards leave businesses and consumers open to fraud and boost frustration regarding the speed of digital transactions. businesses experienced at least one data breach that compromised a minimum of 1,000 records in 2019. Sixty-three percent of U.S.

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NOVEMBER 9, 2020

Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. million) penalty for not following a new social media law, Reuters reported, citing Omer Fatih Sayan, the deputy transport and infrastructure minister.

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DECEMBER 31, 2018

Some popular apps for Android smartphones are feeding data to Facebook without user consent, which could be a breach of the European Union’s (EU’s) General Data Protection Regulation ( GDPR ). This sharing of data could be a major breach of GDPR, which came into effect in May. million USD), whichever is greater.

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DECEMBER 4, 2019

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. Instead of using traditional credit scores, lenders can look at alternative data like borrowers’ cash flow.

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JUNE 10, 2020

The EU’s investigative unit will form a task force to examine TikTok’s activities across the 27-nation bloc following a request from a lawmaker concerned about its data collection and its security and privacy risks. EU authorities can fine companies for violations under the General Data Protection Regulation (GDPR).

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AUGUST 20, 2020

for its handling of a data breach last year and how much should be assessed. The Wall Street Journal reported that the disagreement was disclosed by Ireland’s Data Protection Commission, one of the EU’s privacy regulators. The Irish regulator did not say which entities objected to its proposed decision, or on what grounds.

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MAY 18, 2020

Thierry Breton , EU tech chief, warns of more regulations for Facebook if the social media giant doesn’t mitigate apprehension about its market power and abuses on its platform, according to Bloomberg. I don’t think there’s a question there’s going to be regulation,” Zuckerberg said, according to Bloomberg. “I

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JUNE 23, 2019

BIS said that the social media firm’s recent announcement that it aims to roll out its Libra digital currency and grow into payments has focused the minds of central bankers as well as regulators, Reuters reported. The Bank of England approaches Libra with an open mind but not an open door,” Carney said, per a Reuters report.

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FEBRUARY 4, 2019

In order to continue using the app, users had no choice but to accept the privacy policy, which stated that a significant amount of data would be shared with the government in order to comply with laws and regulations. Some of the data included contacts and anything searched online when using the app.

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JANUARY 18, 2019

Regulators in the United States have reportedly met to discuss levying fines against social media giant Facebook , a punishment that could be sizable in scope and which comes in the wake of privacy violations. The consulting firm had retained data on tens of millions of users, but said it had not in fact held onto that data.

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FEBRUARY 17, 2020

Breton said he’ll decide by the end of the year if he wants to adopt a set of stringent rules as a way for the EU to set out ironclad responsibilities for social media platforms and regulate them. He said any regulations should take this into account.

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FEBRUARY 18, 2019

Facebook , which has been under fire for months over data scandals, expressed openness to new regulation. According to a report in Reuters citing Facebook’s public policy manager Karim Palant, the executive said the social media giant is “open to meaningful regulation.” Google in 2012 paid $22.5

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PYMNTS

NOVEMBER 23, 2020

Here’s the latest news from the technology industry, which is coming under increasing scrutiny from regulators around the world. EU Auditors: European Commission Needs To ‘Scale Up’ Regulation. New Digital Regulations Could Let EU Ban Tech Firms. 34 States Unveil $113M Settlement Against Apple For Alleged iPhone ‘Throttling’ .

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FEBRUARY 16, 2020

Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported. And in comments made last March, he said he believes more regulation is needed on social media companies.

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MARCH 20, 2020

India is making a move to tighten controls on big tech companies like Amazon and require them to turn over data and other requested information in a timely manner, Reuters reported on Friday (March 20), citing sources. The talks about online shopping data control is a “complex subject,” a senior trade ministry official told Reuters.

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PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

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JULY 10, 2023

But, as one of the most regulated and notoriously untrusted industries, the financial services industry is among the most vulnerable to being impacted by negative digital media, driving up its vulnerability to reputational risk.

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PYMNTS

APRIL 2, 2019

The big tech landscape is one that continues to be populated by regulators, by disparate voices calling for more oversight, more laws, more mandates spelling out what is private and what is not. As is germane to GDPR , wrote the executive in his blog, “Effective privacy and data protection needs a globally harmonized framework.

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MARCH 19, 2018

Facebook is facing fresh calls for the government to regulate the company after the news that Cambridge Analytica, a political consulting firm, was able to access data on 50 million users beginning in 2014. Cambridge Analytica told Facebook the data was deleted, but Facebook contends it lied and broke the rules of the platform.

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MARCH 11, 2019

European Union Competition Commissioner Margrethe Vestager said that breaking up big tech companies like Facebook and Google should be seen as a last resort, and that the better idea might be to find a way to regulate data usage. Vestager was speaking at SXSW , according to reports. “To

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PYMNTS

NOVEMBER 18, 2018

Apple ’s CEO believes that new regulations for the tech industry are “inevitable.”. According to the Financial Times , Tim Cook said in an interview that “the free market is not working” and that the tech industry should embrace regulation. Generally speaking, I am not a big fan of regulation,” he said.

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JUNE 19, 2019

In an appearance at the Cannes Lions International Festival of Creativity, Facebook Chief Operating Officer Sheryl Sandberg said the social media platform didn’t anticipate the foreign interference that sought to disrupt the U.S. presidential election in 2016, but has since put up safeguards against misinformation.

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PYMNTS

MARCH 18, 2019

It’s been a whirlwind few weeks — OK, make that months — for big tech firms as regulators look ever more closely at business tactics. They already have taken a hard look at their types of data and how they collect, store, and use it,” Rader said. Competitive Landscape: Breakups Mulled?

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PYMNTS

FEBRUARY 12, 2020

Facebook Ireland put its planned dating feature on hold following a raid by the Irish Data Protection Commission (DPC) on Wednesday (Feb. The DPC — which acts as the regulator for all of Europe — searched the social media giant’s offices in Dublin. 12), according to reports. in September.

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PYMNTS

MARCH 3, 2020

The wisdom of crowds, gleaned from social media, can paint a gestalt picture of how a government agency’s, bank’s or retailer’s efforts are being received on the ground, so to speak. Accessing and ethically processing data, Caballero said, means ensuring the privacy of all individuals who provide that data. Ethical AI.

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social media Data Analysis Analytics 214

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MAY 20, 2020

European Union (EU) regulators want feedback from users and digital service providers before they craft new rules that could manage giant tech firms Google, Facebook, Amazon and Uber, Reuters reported. Facebook Founder and CEO Mark Zuckerberg published “Charting the Way Forward: Online Content Regulation.”

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