Facebook says sorry for data breach scandal in British newspaper ads

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While Cambridge Analytics is facing heavy scrutiny over the use of the data acquired from Facebook Inc., the bigger finger should be pointed directly at Zuckerberg and the company's board that has spent the last 18-months and more dodging serious questions over the company's affiliations with companies and governments and the use of ads during the 2016 U.S Presidential Election.

Mark Zuckerberg said he expects there are other companies alongside Cambridge Analytica which may have abused their access to large amounts of Facebook user data.

"This was a breach of trust, and I'm sorry we didn't do more at the time", Zuckerberg said, reiterating an apology first made last week in United States television interviews.

We've already stopped apps like this from getting so much information.

Zuckerberg, whose firm has lost more than $50 billion in market value since the allegations, said Facebook would give users more information and control about who can access their data.

"I'm not sure we shouldn't be regulated", he told CNN.

A new Reuters-Ipsos poll in the USA released Sunday showed that 41 percent of Americans trust Facebook to obey laws that protect their personal information, compared to 66 percent of trust in Amazon; 62 percent in Google; 60 percent in Microsoft and 47 percent in Yahoo.

American firm Cambridge Analytica has been accused of illegally harvesting personal data from 50 million Facebook users in order to influence the last USA presidential election and the Brexit referendum.

Investors have been too kind to Facebook Inc. this time around, with speculators bargain hunting and, why not when considering the slide, but capital is at risk, particularly if the U.S government takes the boldest of steps and decides to shut it down.

The billionaire entrepreneur has been making the rounds in the media world, discussing the company's relationship with Cambridge Analytica, a controversial firm which harvested personal data from almost 50 million Facebook profiles in an attempt to influence the 2016 presidential election.

The plain black text apology on a white background, with only a tiny Facebook logo, appeared in Sunday publications including The Observer - one of the newspapers whose reporting on the issue has sent Facebook's share price tumbling.

The apology was signed off by Facebook CEO Mark Zuckerberg.

"It's psychologically harder to let go of a platform like Facebook that's become pretty well ingrained into people's lives", Ms Williamson explained.

"Abuse of social media including Facebook can not be allowed to impact the fairness of elections", Ravi Shankar Prasad told reporters.

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