Keep an eye on Facebook’s (NASDAQ:FB) expense line moving forward, and possibly a decline in advertising revenues. The company is making a major move to prevent so called “fake news” off its site, even if it costs revenue and ups expenses.
With news of indictments of 13 Russian nationals over interference in U.S. elections hanging in the air, Facebook says it’s going to double the number of people working on security.
Among other investments and close work with FBI and the Dept. of Homeland Security, the company will increase the workforce dedicated to security to 20,000 this year, from 10,000.
Facebook is “committed to staying ahead of this kind of deceptive and malevolent activity going forward,” says its VP of Global Policy, Joel Kaplan. (h/t Bloomberg)
The indictment from Special Counsel Robert Mueller says Russians infiltrated Facebook with fake accounts and groups supposedly supporting Donald Trump for president. Social media tactics have been used widely to shift public opinion.