Facebook settles FTC lawsuit commits to 20 year privacy audit
Facebook reached a settlement with the Federal Trade Commission today in regards to the privacy-related lawsuit that accused the social network of “unfair and deceptive” business practices. The FTC lawsuit claimed that the company repeatedly shared user information with the public despite telling users that their information would be kept private.
In a long blog post, Facebook CEO Mark Zuckerberg explained that many of the FTC complaints have already been addressed and that the company has today appointed Erin Egan and Michael Richter as the its two Chief Privacy Officers.
Facebook has settled a lengthy privacy complaint with the U.S. Federal Trade Commission after the agency’s two year investigation found wrongdoing on the part of the company, according to a release from the FTC on Tuesday morning.
The settlement tentatively requires Facebook to stop sharing user information with advertisers without consent and to undergo two decades of privacy audits every two years, among other drastic measures designed to reign-in the world’s largest social network’s treatment of user information and communication with users.
And the FTC didn’t let Facebook off easy, either, giving the company a stern warning about any future privacy violations, noting that Facebook could be fined up to $16,000 per violation if it doesn’t comply with the terms of the settlement.