March 22, 2018 / 4:18 PM / in a month

Commerzbank suspends ads on Facebook after data leak

FRANKFURT (Reuters) - Germany’s second-largest bank, Commerzbank, has suspended advertising on Facebook until further notice, after a massive leak of user data, its head of brand strategy told the Handelsblatt business daily.

The headquarters of the Commerzbank are pictured before the bank's annual news conference in Frankfurt, Germany, February 8, 2018. REUTERS/Ralph Orlowski

“We are pausing our campaign on Facebook. Brand safety and data security are very important to us,” Uwe Hellmann told the newspaper, adding the bank would await clarification before deciding how to proceed further.

Commerzbank follows Mozilla, which runs the Firefox web browser, in stepping back from the world’s largest social network after the personal data of millions of users ended up in the hands of political consultancy Cambridge Analytica without their knowledge or consent.

A spokesman for the bank confirmed the comments by Hellmann, made in a Handelsblatt interview.

Reporting by Douglas Busvine and Andreas Framke; Editing by Ludwig Burger

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