Facebook has identified a new co-ordinated political influence campaign to mislead users and organise rallies before November's United States congressional elections, taking down dozens of fake accounts from its site, the company said on Tuesday.
A Russian propaganda arm tried to tamper in the 2016 United States election by posting and buying ads on Facebook, according to the company and US intelligence agencies. Moscow has denied involvement.
Facebook on Tuesday said it had removed pages and accounts from Facebook and Instagram in part of an effort to combat foreign meddling in US elections — attempts politicians have called dangerous for democracy.
Ad Age reported that the company had removed 32 pages and accounts from both sites “because they were involved in co-ordinated inauthentic behaviour”. The most-followed Facebook pages to be shut down were Aztlan Warriors, Black Elevation, Mindful Being and Resisters.
The social network disabled an event promoted on the Resisters page which was scheduled to protest a "Unite the Right" event in Washington in August.
The company said it was still in the early stages of its investigation and did not yet know who may be behind the influence campaign for 2018 elections that will determine whether or not the Republican Party keeps control of Congress.
Chief operating officer Sheryl Sandberg said attempts to manipulate public opinion would likely become more sophisticated to evade Facebook’s scrutiny, calling it an “arms race”.
“This kind of behaviour is not allowed on Facebook because we don’t want people or organisations creating networks of accounts to mislead others about who they are, or what they’re doing,” the company said in a blogpost.
More than 290,000 accounts followed at least one of the pages and about $11,000 (Dh40,400) was spent on about 150 ads, Facebook said. The pages had created about 30 events since May 2017.
Facebook has been on the defensive for months about influence activity on its site and concerns over user privacy tied to longstanding agreements with developers that has allowed them access to private user data.
The company identified influence activity around at least two issues, including a counter-protest to a "Unite the Right II" rally set next week in Washington. The other was the #AbolishICE social media campaign aimed at the US Immigration and Customs Enforcement agency.
Facebook said it would tell users who had expressed interest in the counter-protest what action it had taken and why.
Company officials told the media that a known account from Russia’s Internet Research Agency was a co-administrator of one of the fake pages for seven minutes, but the company did not believe that was enough evidence to attribute the campaign to the Russian government.
Facebook previously said 126 million Americans may have seen Russian-backed political content on Facebook over a two-year period, and that 16 million may have been exposed to Russian information on Instagram.
Adam Schiff, the top Democrat on the US House of Representatives Intelligence Committee, in a statement urged Facebook to move against foreign groups trying to sway US voters and to warn legitimate users that such activity, as seen in 2016, is recurring this year.
“Today’s announcement from Facebook demonstrates what we’ve long feared: that malicious foreign actors bearing the hallmarks of previously-identified Russian influence campaigns continue to abuse and weaponise social media platforms to influence the US electorate,” Mr Schiff said.
Senate Intelligence Committee Chairman Richard Burr, a Republican, said there would be a hearing on Wednesday about the online threat to US election security.
Mr Burr said the goal of influence operations “is to sow discord, distrust and division in an attempt to undermine public faith in our institutions and our political system. The Russians want a weak America”.
Washington imposed punitive sanctions on Russia following US intelligence agency conclusions that Moscow interfered to undermine the 2016 US elections, one of the reasons US-Russian relations are at a post-Cold War low. Both US President Donald Trump and Russian President Vladimir Putin have said, however, that they want to improve ties between the two nuclear powers.
Facebook disclosed in September that Russians had used the social network under fake names to try to influence US voters in the months before and after the 2016 election, writing about divisive issues, setting up events and buying ads.
US intelligence agencies said Russian state operators ran the campaign combining fake social media posts and hacking into Democratic Party networks, eventually becoming an effort to help Republican candidate Mr Trump, who scored a surprise victory over Democrat Hillary Clinton.
Over the past several months, the company has taken steps meant to reassure US and European politicians that further regulation is unnecessary. Chief executive officer Mark Zuckerberg says the company has 20,000 people working to police and protect the site.
Costs associated with that effort are part of the reason Facebook said last week that it expects its profit margins to decline, a warning that sent shares tumbling about 25 per cent, the biggest one-day loss of market cap in US stock market history. Shares of Facebook were up about 1.5 percent in Tuesday’s mid-afternoon trading, part of a broader tech rebound.
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Read more:
Tech firms should be liable for 'fake news' on sites, say UK politicians
British regulator to fine Facebook over data protection breaches
In the internet age, fake news is a new form of war
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Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
Titan Sports Academy:
Programmes: Judo, wrestling, kick-boxing, muay thai, taekwondo and various summer camps
Location: Inside Abu Dhabi City Golf Club, Al Mushrif, Abu Dhabi, UAE
Telephone: 971 50 220 0326
The specs
BMW M8 Competition Coupe
Engine 4.4-litre twin-turbo V8
Power 625hp at 6,000rpm
Torque 750Nm from 1,800-5,800rpm
Gearbox Eight-speed paddleshift auto
Acceleration 0-100kph in 3.2 sec
Top speed 305kph
Fuel economy, combined 10.6L / 100km
Price from Dh700,000 (estimate)
On sale Jan/Feb 2020
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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The specs: 2018 Mercedes-Benz S 450
Price, base / as tested Dh525,000 / Dh559,000
Engine: 3.0L V6 biturbo
Transmission: Nine-speed automatic
Power: 369hp at 5,500rpm
Torque: 500Nm at 1,800rpm
Fuel economy, combined: 8.0L / 100km
UAE currency: the story behind the money in your pockets
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour