Indian IT Firms to Work with Facebook to Curb Fraud | CORPORATE ETHOS

Indian IT Firms to Work with Facebook to Curb Fraud

By: | January 2, 2019

Jan 2: Last year, Facebook had encountered many rumors and allegations made against it regarding security issues. The latest news is that the social media giant has stepped up outsourcing to Indian IT companies including HCL Technologies, Wipro and Tech Mahindra, for content moderation, anti-money laundering, and data analytics.

According to the sources, in the past few months, Facebook has increased its commitments with various India companies, including Genpact and Accenture.

Reports said that combined contracts of Indian companies with Facebook are valued at over $400 million. This is expected to increase as the company requires human resources instead of technology to solve the issue.

Facebook has not commented on the issue. Meanwhile, Wipro and Genpact have been quoted by news sources as saying that they cannot disclose customer engagements. When HCL Technologies denied commenting on the issue Tech Mahindra and Accenture haven’t responded.

The Indian companies are work activities for Facebook involves the ones at the US and Europe. These are the markets where it encountered the extreme blows from the lawmakers, regulators and the public.

In the past few years, Facebook was alleged of sharing its user’s data with the British political consulting firm, Cambridge Analytica to sway the election outcomes in the US. There was also news that it shares the data to companies like Netflix. Post the allegations, Mark Zuckerberg, founder, Facebook, assured the users that a team of 20,000 people to mend security and content review.

In India, the government has already raised concerns with Facebook over the platform being used for spreading rumors. The social network has over 294 million users in India, its largest user base in the world as an October, according to data platform Satista.

The Indian government had also raised concerns regarding Facebook as there is lots of fake news being spread via Facebook. India Facebook has a user count of 294 million, which is the largest user base for the company as of October.