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        <title><![CDATA[Twitter faces $250M FTC fine for using security data to target ads]]></title>
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        <link>https://usagag.com/2020/08/04/twitter-faces-250m-ftc-fine-for-using-security-data-to-target-ads/</link>
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            <media:title type="html">Twitter faces $250M FTC fine for using security data to target ads</media:title>
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        <content:encoded><![CDATA[<p>Twitter revealed this week that it expects to pay as much as $250 million in fines over allegations that it improperly used customers&#8217; private data to target ads.</p><p>The San Francisco-based company said Monday that it received a draft complaint from the Federal Trade Commission on July 28 that accused it of using users&#8217; email addresses and phone numbers for advertising purposes between 2013 and 2019 after telling customers that it had collected them for security and safety reasons.</p><p>Under the terms of a 2011 consent decree, Twitter is barred from misleading customers about how it “protects the security, privacy and confidentiality of nonpublic consumer information.”&nbsp;Twitter users verify their email addresses and phone numbers when setting up two-factor authentication on their accounts.</p><p>Twitter said it estimates a probable loss of between $150 million and $250 million in settlement charges, and has already recorded $150 million of that estimate in accrual related to the allegations.</p><p>&#8220;The matter remains unresolved, and there can be no assurance as to the thing or the terms of any final outcome,&#8221; the company said.</p><p>It&#8217;s the latest black eye for the social network headed by Jack Dorsey, which last month fell victim to <strong>a massive hack</strong> that took control of more than 100 of its most high-profile users — including Barack Obama, Elon Musk and Kanye West — to push a bitcoin scam.</p><p>Twitter shares were down 1.1 percent in early Monday trading.</p>]]></content:encoded>
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