The report stated said that "Companies like Facebook should not be allowed to behave like 'digital gangsters' in the online world, considering themselves to be ahead of and beyond the law."
Facebook said on Monday that the company was ready to face “meaningful regulation” after UK government accused Mark Zuckerberg-led Facebook of acting akin to a “digital gangster”. The UK lawmakers added that Facebook has violated laws despite knowing better and also aided Russians in spreading misinformation during the elections.
A House of Commons committee which oversees media policy reprimanded Facebook in a report about “disinformation and ‘fake news”.
The report stated said that “Companies like Facebook should not be allowed to behave like ‘digital gangsters’ in the online world, considering themselves to be ahead of and beyond the law.”
Facebook was admonished for its handling of personal data and its use by the company for “political campaigns” in the report.
The report said that Facebook’s policies are “legitimate areas for inspection by regulators” while adding that the company “should not be able to evade all editorial responsibility for the content shared by its users across its platforms.”
The BBC reported that Facebook, while responding to the committee report, said that it “shares the committee’s concerns about false news and election integrity”. The social media giant further added that they were glad to have assisted and in making a “significant contribution” to their investigation over the past year and a half months. The company said it answered more than 700 questions in addition to four of its most senior executives providing evidence.
Facebook patted itself on the back for the recent changes it made. However, the company said it was ready to face tougher laws.
Facebook’s statement said that it was not waiting for any regulations to come but has already made significant changes in order to make sure that every political ad on Facebook be authorized and list who pays for it and then stores the information in an archive for seven years.
Facebook defended itself saying that no other platform for political advertising is as transparent “and offers the tools that we do.”
Committee Chair Damian Collins and member of Parliament from the Conservative Party rued that Facebook did not completely cooperate with the investigation, a BBC report said.