Market Profile Strategies - Jail-stay Does Not Deter Facebook VP From expanding in Brazil, Dispute Over Encrypted WhatsApp Messages of Drug Traffickers

Market Profile Strategies

Dec 30 2023 • 0 seconds

Facebook Inc’s (NASDAQ:FB) vice president Diego Dzodan returned from a 24-hour stay in jail Brazil, as his company chose to dispute local court orders seeking encrypted WhatsApp messages of drug traffickers. He was treated with a “lot of respect,” the top official was quoted as saying at a MIT, Sloan School of Management’s conference on Latin American business trends, on Saturday. Dzodan was jailed on Tuesday, as Facebook failed to comply with the orders of the Brazilian investigators. The VP, based in Sao Paulo, said that the Facebook does not have access to data, as it is “secured” when travelling on its messaging product, WhatsApp. Facebook Inc (NASDAQ:FB) non-compliance with the official request resulted in Dzodan’s arrest. Encryption, Block access Dzodan’s remarks on his arrest and the reasons for the same were made during a question-and-answer session with the students. After his talk about innovation and the social networking approach to it, Dzodan shared that his detention will not affect the company’s plans in the country. He explained that WhatsApp messaging platform is designed for encrypted travel of data from one phone user to the next, with no “information stored;” making it “impossible for” Facebook Inc (NASDAQ:FB) to access any of the information. Detention Will Not Interrupt Brazilian foray Dzodan, also assured that this unsavoury incident in Brazil would not be stopping the company with continuing its expansion services. The VP said that, Facebook remained “extremely committed” to its Brazilian operations as users of this Latin American country “really like Facebook.”  We are focused “long term” in this market, Dzodan reiterated to questions on Facebook’s future in the country. The investigating officials have refused to discuss their “demand” for data from WhatsApp messaging service in 2014, as “on-going” criminal investigations would be affected. Official spokesman for Facebook Inc (NASDAQ:FB), has however, issued a statement that the detention was an “extreme, disproportionate measure.” The Sao Paulo incident involving the Facebook official and the country’s investigating agency is very similar to a high-profile public spat between Apple Inc (NASDAQ:AAPL) and Federal investigators in the US, over criminal investigations.



SOURCE : https://tradertalks-net.translate.goog/s/13982?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

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