© Reuters. FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration
LONDON (Reuters) – Britain’s competition regulator is investigating Facebook (NASDAQ:) to determine whether the network is abusing its dominant position in social media or digital advertising through its collection and use of data, it said on Friday.
The Competition and Markets Authority has launched an investigation into whether Facebook holds an unfair advantage in areas such as online classified ads and online dating, in the way it gathers and uses data.
Facebook collects data when businesses advertise to its users and via its single sign-on option which enables people to sign into other websites using their Facebook log-in details.
“We will be working closely with the European Commission as we each investigate these issues, as well as continuing our coordination with other agencies to tackle these global issues,” CMA Chief Executive Andrea Coscelli said.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.