Facebook is still reeling due to the major catastrophic data hacking that has subjected it to the barrage of criticism for its lapse in security .
Facebook acknowledged earlier this year about the hack that exposed nearly 80 million of its users to the Cambridge Analytics, a British political firm that works for the famous American politician, Donald Trump who now owns the title of the President of US. The Cambridge Analytics has improperly accessed the data of Facebook users in 2016 for the benefits of winning the US Presidency elections.
This is not the only time when users’ personal information was stolen by cyber attackers, Facebook has recently accepted another hack in its system in which the personal information of nearly 29 million users was compromised.
Therefore after the high level scandals, Facebook has decided to buy a big cyber-security company in order to better preserve the data of its users. The company is vacillating between a number of cyber-security companies and has even approached many of them with the aim of acquiring a security system that can mould itself comfortably into the existing services that they provide.
The social media giant might pick its deal before the end of 2018, however it refused to give any comments or vows on the matter. Facebook is tirelessly searching for a security company who acquisition would help it to strengthen its defence again such hazardous cyber attacks, improve its proficiency and minimize the chances for any coding errors to incur.
After the Cambridge Analytics scandal, Facebbok’s reliability and reputation has been severely injured and therefore the company’s major concern now includes to win back the trust of its users, and buying a cyber-security company will definitely signal towards the seriousness with which Facebook is trying to handle the situation.
Source: BusinessInsider, Nigerianbulletin.com
I am an amateur content writer, who is currently pursuing a Masters in Finance from ICFAI Business School. In this highly volatile Business Market, I find no better way to keep myself updated than to write about it and reflect my own thoughts as words.