The Worst-Case Scenario for Facebook's Political Ad Controversy
Facebook (NASDAQ: FB) has had its share of controversies in recent years. Most notably, back in 2018, the social media company experienced public backlash and legal consequences when it was discovered that a third-party, Cambridge Analytica, had gained access to private data from millions of Facebook accounts during the 2016 election cycle.
Cambridge Analytica was allegedly looking to use this data to help elect Donald Trump as president. Facebook had to pay a $5 billion fine for its involvement in this debacle, the largest fine ever imposed by the U.S. Federal Trade Commission (FTC) for violating privacy rights. This episode is now in the rearview mirror for Facebook, but with 2020 being an election year, the company may face severe backlash for its controversial policy on political ads.
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Source Fool.com
