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meta was fined approximately 710 million yuan for violating password security regulations

2024-09-29

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01:25
(cctv finance "world finance")on the 27th local time, the irish data protection commission fined facebook parent company meta 91 million euros (approximately rmb 710 million) for violating password security regulations and storing passwords in clear text.
the irish data protection commission states that it is a fundamental security standard that user passwords should not be stored in clear text, as this data could pose a serious risk of misuse should it be inappropriately accessed. it also stated that meta not only failed to take appropriate measures to protect users' password data, but also notified the committee too late. meta later said in a statement that the company had taken action to fix the error and that there was no evidence that the passwords had been misused or improperly accessed.
it is reported that the fine stems from a security review conducted by meta in 2019. in march of that year, meta's irish subsidiary reported to the irish data protection commission that the company stored users' social media passwords in plain text, which were not encrypted and could be searched by meta employees. in april of the same year, the irish data protection commission launched an investigation into the matter. meta's initial statement only mentioned that the company discovered in january 2019 that some user passwords were stored in clear text on its servers. but an update a month later revealed that passwords for millions of photo wall accounts were also stored in an easy-to-read format.
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