{"id":15876,"date":"2019-07-23T00:00:00","date_gmt":"2019-07-23T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/damian-collins-shows-his-skepticism-about-the-facebooks-libra-and-its-possible-risk-of-massive-fraud\/"},"modified":"2019-07-23T00:00:00","modified_gmt":"2019-07-23T00:00:00","slug":"damian-collins-shows-his-skepticism-about-the-facebooks-libra-and-its-possible-risk-of-massive-fraud","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/damian-collins-shows-his-skepticism-about-the-facebooks-libra-and-its-possible-risk-of-massive-fraud\/","title":{"rendered":"Damian Collins shows his skepticism about the Facebook\u00b4s Libra and its possible risk of “massive fraud”"},"content":{"rendered":"
Damian Collins<\/strong>, chair of the House of Commons\u2019 Digital, Culture, Media and Sport Committee in United Kingdom, believes that Facebook\u2019s Libra<\/a><\/strong> project is going to open doors for fraudulent activities. He said that Libra is going to enable \u201cmassive fraud\u201d,<\/em> because it will be in the control of Facebook and no one outside of Facebook\u2019s \u201cwalled garden\u201d<\/em> will be able to access it.<\/p>\n Collins has a history of involvement in projects investigating Facebook. He lead an investigation into the company after the scandal involving London-based elections consultancy Cambridge Analytica took place last year. The Cambridge Analytica<\/a> <\/strong>scandal involved harvesting and the use of personal data of users. Britain\u2019s Channel 4 A broadcasted senior executives of the consultancy boasting about fake news campaigns and entrapment methods they use for politicians. The company was allegedly involved in important campaigns like the Trump<\/a> <\/strong>election campaign and the Brexit campaign.<\/p>\n