- Facebook will add about 10,000 people dedicated to "security and community issues," according to Facebook's VP and general counsel, Colin Stretch, reports CNBC. Facebook, alongside Twitter and Google, testified before the Senate Judiciary Crime and Terrorism Subcommittee Tuesday amid mounting scrutiny following alleged Russian manipulation on the sites.
- As of now, Stretch told the subcommittee there are about 10,000 employees working on security. The company had previously announced plans to hire 3,000 employees as "content moderators" following scrutiny around live videos that broadcast violence, according to the report.
- The hearing came just before Facebook released its Q3 earnings report. Its revenue increased 47% year-over-year to $10.3 billion. Notably, mobile sales accounted for 88% for all sales. Because of the information Facebook gathers from consumer ad activity, Congress wants to be able to regulate its "ability to sell political advertising," reports CNBC.
Social media companies have come under fire for a negligent approach to regulating content. These platforms were designed for the purpose of free speech but in the last year, they have become tools for national adversaries.
Since the 2016 presidential election, social media companies were forced to acknowledge the role the platforms may have unintentionally played in the election. However, the companies maintain that despite the troves of information they possess, it is almost impossible to track all advertisers.
The hearing comes after Facebook's CSO, Alex Stamos, admitted that the network has not "caught up" with its social responsibility. He also went on to say that the network is run like a "college campus" which he later clarified by saying it was a "figure of speech" and that it needs an environment to be secure but motivating.
Due to the mass vulnerability of Facebook's two billion monthly users, the burden of detection has increased. Facebook has to walk a fine line to dispel "fake news" without impeding on freedom of speech and social connectivity.
Facebook is among those across all industries looking to weave security into all applications. One layer of security is proving to be insufficient as the cost of cybercrimes rose 23% in the last year alone.