CCTV Script 05/11/18

— This is the script of CNBC's news report for China's CCTV on November 5, 2018, Monday.

The latest information related to Facebook scandal is reported by the BBC: there are hackers stole the Facebook user information and sell that online, the BBC quoted hackers to report that there are 120 million private accounts were stolen, meanwhile the hacking group trying to sale that by10 cents per account, and released at least 81000 accounts at present

When the BBC reporter pretend to be interested buyers and contact the hacking group, the hackers denied this move is related to "Cambridge analysis" scandal, and for all of the 120 million accounts, there are 2.7 million are from the Russian users. For more than 81000 have been published online, in addition to Ukraine ID and Russia ID, users from British American Brazil and other countries have also involved

Digital Shadows, for example, suspected that the hackers exaggerated what they, because Facebook could not have ignored the scale of the theft before. And Facebook response to this event, saying the stolen data was likely obtained through a malicious browser plugin, there is no problem with the security of the company itself, Facebook also said it had asked browser companies to remove the malware. Although this incident is different from the previous Cambridge analysis scandal, the security flaw lies in the browser, not the Facebook platform does also bring pressure to Facebook.

Facebook shares are down more than 30 percent from the highs they reached in late July

From its most recent earnings, we can see that a number of scandals have damaged the company's reputation, and led to a massive loss of users. For example, in Europe, the number of monthly active users decreased by another 1 million last quarter. Beyond the crisis of trust that the scandal has led to, EU data protection rules have also had a big impact.

The series of crises has led Facebook to expect a big increase in security investment this year, with spending will rise by more than 50 percent, while CEO mark Zuckerberg has also signaled a slowdown in the company's future growth

Mark Zuckerberg

CEO OF FACEBOOK

I expect 2019 to be another year of significant investment. Dave will say more about this in a moment. But I want you to know that looking out beyond 2019 I know that we need to make sure our costs and revenue are better matched over time, and that's something that I'm focused on as well.

It remains to be seen whether Zuckerberg will be able to deliver on his promise to tackle security issues or not by the end of 2019, but for now the challenge will be daunting