UniCredit, Italy’s largest bank, stops advertising on Facebook over ethical lapses

0
222


Italy’s largest bank, UniCredit SpA, stopped advertising on Facebook Inc. in March, citing what it said was unethical behavior by the social-media giant related to a scandal involving data firm Cambridge Analytica.

UniCredit’s












UCG, +2.88%










  decision was unveiled Tuesday by the bank’s chief executive, Jean-Pierre Mustier, in response to a reporter’s question on whether the bank has shared customers’ information with Facebook












FB, -1.01%










 .

The reporter’s question was prompted by an article published on Monday by The Wall Street Journal, which detailed how Facebook had asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances, as part of an effort to offer new services to users.

Mustier said the bank never shares customer information and had stopped using Facebook for its advertising and marketing campaigns. He added that it won’t advertise on Facebook again until the U.S. company improves its ethical standards. “UniCredit has stopped all advertising with Facebook due to recent incidents and the company’s reaction to them,” Mustier said. “The Group takes ethics very seriously.”

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

Former Trump lawyer Michael Cohen under investigation for tax fraud.

Saudi Arabia’s spat with Canada risks backlash from investors.

Want news about Europe delivered to your inbox? Subscribe to MarketWatch’s free Europe Daily newsletter. Sign up here.



Source : MTV