Facebook recently announced that millions of Instagram user passwords were exposed to employees in a searchable format in an internet database. This announcement came in an update to a blog post that was published last month. This was the second time in as many months what such an an announcement was made. It was disclosed that millions of user passwords for Facebook were exposed to employees as well. Facebook said it would notify the millions of Instagram users whose passwords were exposed.
This article was constructed from an article on CNBC, Maggie Fitzgerald, 18 April. Note that originally Facebook said that the exposure affected thousands of Instagram passwords – it was actually millions. The exposure is part of one that affected 600 million Facebook user passwords.
The Irish Data Protection Commission, which administers the European Union`s General Data Protection Regulation, or GDPR, said that Facebook had reached out over the issue. The 600 million figure, to put it in perspective is part of a 2.7 billion person user base. Scrutiny to come from global regulators in the future as the incident, several at least, have dated back to 2012.
In our view, there will be a lot of changes at Facebook or the US and other governments will start to apply pressure to the firm, possibly with anti-trust legislation. This would put the CEO in a very uncomfortable position.