The company added that it was trying to determine the accuracy of a joint reporting effort by The New York Times and Observer of London newspapers that a researcher gave the firm, Cambridge Analytica, inappropriately obtained Facebook data starting in 2014.
Cambridge also earned $5.8 million from Sen. Apparently, this access could have been the reason for Trump's victory during the 2016 Presidential elections. "Someone has to take responsibility for this", he said. "Massachusetts residents deserve answers immediately from Facebook and Cambridge Analytica", she said in a Twitter post.
Attorneys general from the US states of MA and CT have launched investigations into how the Facebook data was handled, and the attorney general's office in California, where Facebook is based, said it had concerns.
Collins also accused the head of the United Kingdom -based data firm Cambridge Analytica, Alexander Nix, of lying.
This transparency paradox is at the core of Facebook's existential crisis today, and there's a real risk that the Cambridge Analytica story will make it more conservative in what it shares, which would affect the research of hundreds of good scientists who are working with the social network every day without breaching its terms of service in order to understand how Facebook is affecting our society.
The executives boast that Cambridge Analytica and its parent company, Strategic Communications Laboratories (SCL), have worked in more than 200 elections across the world, including Nigeria, Kenya, the Czech Republic, India and Argentina. He did not, however, get the permission of the users' friends, whose information was also gathered - an estimated 50 million people.
Lawmakers are calling on Facebook CEO Mark Zuckerberg to explain what happened. After two years of failing to disclose the harvesting, Facebook said Monday that it hired an outside firm to audit Cambridge Analytica and its activities. "At the request of the UK Information Commissioner's Office, which has announced it is pursuing a warrant to conduct its own on-site investigation, the Stroz Friedberg auditors stood down".
"Most people are going to say no, so I think it's going to have a huge impact on these companies". If true, this is another unacceptable violation of trust and the commitments they made.
Wyden said the reports about Cambridge Analytica throw into question "not only the prudence and desirability of Facebook's business practices and the dangers of monetizing consumers' private information, but also [raise] serious concerns about the role Facebook played in facilitating and permitting the convert collection and misuse of consumer information".
"Such a search would potentially compromise a regulatory investigation", the statement said.
A company spokesman told the news programme it does not use "untrue material for any purpose". Shares were down 7 percent.
Alphabet, Google's parent company, lost nearly 3 percent and Microsoft fell nearly 2 percent.
Facebook, already facing deep questions over the use of its platform by those seeking to spread Russian propaganda and fake news, is facing a renewed backlash after the news about Cambridge Analytica.
He says the firm used "informational dominance" to capture every channel of information around a person to surround them with curated information, changing their perception of what's actually happening. Former Trump strategist Steve Bannon once served on the firm's board. "Mr. Wylie thus far has declined".
Cambridge Analytica was created around 2013 initially with a focus on USA elections, with $15 million in backing from billionaire Republican donor Robert Mercer and a name chosen by future Trump White House adviser Steve Bannon, the New York Times reported.