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Hours after we reported how $37bn (£26bn) had been wiped off from the value of Facebook amid allegations of data mining, the shares in tech giant continue to suffer and were down around 5 per cent since the start of trading in New York today.
Britain is now investigating whether Facebook did enough to protect data after a whistleblower said a London-based political consultancy, Cambridge Analytica, improperly accessed information of 50m social media users to sway public opinion.
The head of Britain’s Information Commission,Elizabeth Denham, is now seeking a warrant to search the offices of Cambridge Analytica.
Meanwhile, Parliament’s Digital, Culture, Media and Sport Committee has issued a formal request to the Facebook boss to explain the firm’s record in relation with Cambridge Analytica.
The committee’s chair said that while MPs have repeatedly raised the issue of data privacy and exploitation, the tech giant has “consistently understated this risk”.
Facebook has said it hasn’t violated the rules.