August 05, 2020
Twitter admits using personal information for profit from targeted advertising
Twitter faces a fine of up to $250 million after admitting the misuse of users’ personal information for targeted advertising.
- In its SEC (securities and exchange committee) filing from June 2020, Twitter admitted taking its users’ 2FA details provided for security and safety purposes and using it for targeting advertising between the years 2011 and 2019.
- As reported by Computer Business Review, Twitter reported having inadvertently matched mobile numbers and email addresses provided by users for the purpose of increasing their personal security, with third-party marketing lists, while using its tailored solutions to increase exposure to targeted advertising.
- Earlier, in October 2019, following a significant fine of $5 billion incurred on Facebook for similar privacy abuses and fearing similar outcomes, Twitter published a public apology admitting to unintentional use of personal information for targeted ads.
- Not being able to account for the exact number of accounts affected by these actions, Twitter announced that so far it accrued a loss of $150 million, while potential loss can reach up to $250 million.
- To date, the matter remains unresolved and the final outcome has not yet been determined.
Visit our blog or Follow Us on Facebook for the latest news and insights on cybersecurity.
Stay Safe with TrustNet!