Facebook investigates German authority for market abuse – Investing.com Spain

FRANKFURT (Reuters) – The Bundeskartellamt, the German authority responsible for the regulation of competition and consumer rights, has opened an investigation into Facebook (NASDAQ for alleged abuse of market power through loopholes in the law of data protection, said Wednesday.

the watchdog said the terms of use of Facebook in relation to their use of data users could abusing its potentially dominant position in the market of social networks.

“for Internet services funded by advertising as Facebook, user data are enormously important. therefore, it is essential to also examine, through the prism of abuse of market power, if consumers are sufficiently informed about the types and type of data collected, “the president of the authority, Andreas Mundt said in a statement.

Facebook, the the world’s largest social network with 1.600 million users a month, earn money with personalized ads, thanks to the data collected from users about their friends, their views and activities of their publications.

has faced strong criticism from politicians and regulators in Germany, where data protection is highly regulated, because of its privacy practices.

the co-founder and chief executive, Mark Zuckerberg, visited Berlin last week in an image campaign.

“We have confidence that we will comply with the law and we are ready to work with the Federal Competition Bureau to answer your questions,” said a spokeswoman for Facebook on Wednesday.

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