European Central Bank Preparing for Russian-Sponsored Cyber Attack

The European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount, two people with knowledge of the matter said, as the region braces for the financial fallout of any conflict. The stand-off between Russia and Ukraine has rattled Europe's political and business leaders, who fear an invasion that would inflict damage on the entire region.

Pro-China Accounts Flood Twitter in Attempt to Dilute Human Rights Focus

Pro-China accounts have been flooding Twitter with messages that include the hashtag #GenocideGames, in what researchers say is an effort to dilute the hashtag’s power to galvanize criticism of the Winter Olympics host nation. Human-rights advocates and Western lawmakers have used the #GenocideGames hashtag to raise awareness about Xinjiang, a region in northwestern China where authorities have conducted forcible assimilation efforts against religious minorities, including Uyghur Muslims. Xinjiang has become a focal point for critics of China’s policies ahead of the Beijing Winter Olympics, which began last week.

Meta, Digital Banking Company Sue Nigeria-Based individuals for Phishing

Facebook parent Meta Platforms said it had filed a joint lawsuit with digital banking company Chime against two Nigeria-based individuals who engaged in phishing attacks to deceive people and gain access to their online financial accounts. The lawsuit, which is the first joint complaint between Meta and a financial services company, alleged that the defendants used Facebook and Instagram accounts to impersonate Chime and lure people to fake branded phishing websites with the aim of obtaining their Chime account login information and withdrawing funds.

Justice Department Seizes $3.6 Billion in Bitcoin in Alleged Laundering Scheme

The Justice Department announced it had seized more than $3.6 billion in bitcoin allegedly stolen as part of a 2016 hack of Bitfinex, saying authorities have also arrested a husband and wife in New York for allegedly trying to launder the cryptocurrency fortune. Officials said they are accused of trying to launder 119,754 bitcoin that were stolen after a hacker breached the cryptocurrency exchange Bitfinex and initiated more than 2,000 unauthorized transactions.

European Commission Proposes $49 Billion in Funding for Chip-Making Industry

A European Union proposal to increase microchip production could unleash tens of billions of dollars in funding for research and new production facilities, part of the bloc’s economywide effort to boost its commercial independence. The European Commission, the EU’s executive arm, introduced legislation to make available about $49 billion in public and private funding for the chip-making industry.

TikTok Announces New Safety Features Aimed at Younger Users

Months after TikTok was hauled into its first-ever major congressional hearing over platform safety, the company is announcing a series of policy updates and plans for new features and technologies aimed at making the video-based social network a safer and more secure environment, particularly for younger users. The changes attempt to address some concerns raised by U.S. senators during their inquiries into TikTok’s business practices, including the prevalence of eating disorder content and dangerous hoaxes on the app, which are particularly harmful to teens and young adults.

Facebook Says It May Withdraw Services in Europe Without Data Transfer Rules

Facebook parent company Meta has warned that it may have to withdraw products and services, including Facebook and Instagram, from Europe if it's prevented from transferring data from the EU to the U.S. due to the lack of an international agreement. The warning, issued in its annual report, was followed up by a statement from a Meta spokesperson that called for the two powers to establish "clear, global rules to protect transatlantic data flows over the long term."

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Facebook's Oversight Board Wants Ban on Sharing Private Home Addresses

Facebook owner Meta Platforms should not allow users to share people's private residential information on its platforms even when the information is publicly available, the company's oversight board said in its first policy advisory opinion. The board also recommended Meta create a communications channel so that so-called doxxing victims can better explain their cases to the company.

Tinder Bans Man Accused in Netflix Documentary of Defrauding Women

Tinder said it has banned Simon Leviev, the subject of Netflix Inc.’s documentary “The Tinder Swindler,” which alleges that he defrauded women he met on the dating app. “We have conducted internal investigations and can confirm Simon Leviev is no longer active on Tinder under any of his known aliases,” a Tinder spokeswoman said.

IRS Drops Plans to Use Facial Recognition Software to Identify Taxpayers

The Internal Revenue Service plans to stop using facial recognition software to identify taxpayers seeking access to their accounts on the agency’s website amid concerns over privacy and data security. The tax agency came under criticism after the Treasury Department awarded ID.me, an identity verification company, an $86 million contract last year to make taxpayer accounts more secure from data leaks, a growing concern.

Religious Leaders Ask Zuckerberg to Drop Plans for Kids' Version of Instagram

A coalition of 75 faith leaders signed a letter to Mark Zuckerberg, CEO of Facebook and Instagram parent company Meta, asking him to ditch permanently plans to create an Instagram platform for kids under 13. In September, the company said it would put the plans on pause after internal documents leaked by a whistleblower escalated scrutiny on Instagram’s impact on teen and youth users, but it did not go so far as to totally drop the plans — as advocates and lawmakers have pushed for.

European Justice Ministers, Google, Meta Agree Changes Needed to Fight Hate

European justice ministers and tech giants Google's and Meta agreed that a clear legal framework was needed to step up cooperation against online hate, France's justice minister said. Social media and online platforms face a raft of legislative proposals on both sides of the Atlantic that will require them to do more to counter online hate speech and disinformation.

Meta to Launch 'Personal Boundary' Tool for Users of Virtual Reality Platforms

Facebook's parent Meta Platforms said it is launching a tool for people using its virtual reality social platforms to maintain personal space boundaries, as concerns have mounted about user safety and sexual harassment in the metaverse. Its new "personal boundary" tool will make users feel like they have nearly four feet (1.2 meters) between their virtual avatar and others when they access the immersive Horizon Worlds and Horizon Venues apps through VR headsets.

U.K.'s Competition Regulator Fines Meta $2 Million Related to Giphy Probe

Meta Inc. was fined 1.5 million pounds ($2 million) from the U.K.’s competition regulator for breaching an enforcement order during its Giphy merger probe, the latest twist in an increasingly messy fight for control of the GIF search engine. The Facebook parent failed to inform the Competition and Markets Authority that three “key” U.S. employees had left the company, a breach of its merger investigation rules, the regulator said.

Lawmakers Question Amazon About Sale of Preservative Used in Suicides

In a letter sent to Andy Jassy, Amazon’s president and chief executive, a bipartisan group of House members sought an accounting of the company’s sales of a preservative used as a poison to die by suicide, details on how the retailer had addressed the dangers, and an explanation of how it had responded to complaints. The move comes just weeks after publication of a Times investigation that linked a website, which provides explicit instructions on suicide, to a long trail of deaths.

Meta Rethinking Policy of Banning Political Ads Close to Elections

Facebook owner Meta Platforms Inc. is rethinking its policy of banning new political advertisements in the final days before an election, part of its preparation for the 2022 midterms, according to a person familiar with the matter. Meta employees in recent days have been re-evaluating how that policy was executed during the 2020 U.S. election and whether there were potential unintended consequences, said the person, who wasn’t authorized to speak on the record.

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