Cambridge Analytica harvested the data of 50 million Facebook users to help swing the US presidential election, but amid the trend for corporate governance ‘narratives’, did Facebook’s directors forget the chapter on ethics?
European legislators aim to improve safeguards by proposing an EU-wide responsibility for companies to set up whistleblowing procedures.
New York City pension fund overseer urges Facebook chairman Mark Zuckerberg to quit, as part of cleansing itself after the Cambridge Analytica data leak.
Reports suggest the data protection controversy that wiped billions from the market value of Facebook is now considered an ESG issue for fund managers.
The scandal over what happened to Facebook user data by Cambridge Analytica illustrates that companies still struggle with core questions about how data can and cannot be used.