Facebook's Libra puts your privacy rights at risk - more than you realise

SINCE Facebook announced its plans to launch Libra, the world's "first" digital currency, the company has taken hits to its battered reputation from every direction.

With a record US$5 billion fine for privacy violations in the Cambridge Analytica scandal, to the backlash following the release of The Great Hack - it is a wonder why anyone would risk their livelihood by using Libra.

This is a concern that is top of mind for regulators everywhere. This week, global regulators from 26 central banks began questioning heads at the Libra project amid concerns around the use of consumer data and the threats that it poses to financial stability.