Technology
Facebook agrees to increased federal oversight on privacy: report
Facebook is open to increased oversight from the U.S. government as part of a settlement over its privacy practices.
According to the , the social networking company would be required to submit new products and services to the Federal Trade Commission for review.
A source familiar with the settlement talks says that Facebook would provide documentation outlining its decision-making process along with possible privacy issues for new features. The FTC would then analyze how they would impact the platform’s users.
Facebook founder and CEO Mark Zuckerberg and other top company executives would also be required to “assess the company’s privacy safeguards and sign off on them” every quarter as part of the deal. This report would be provided to independent members of a committee on Facebook’s board tasked with overseeing the company’s data collection practices.
In addition to the committee, Facebook would need to “swiftly” report data privacy issues to the FTC as well as provide a more rigorous review of third-party app developers in order to avoid such privacy mishaps in the first place.
The FTC would also approve of a third-party watchdog which would regularly evaluate the company’s privacy practices.
Word that Facebook has agreed to federal privacy oversight comes one day after published a report detailing some of the very same from the FTC. The social networking company seems to be signalling that it would like to wrap up the investigation, which was following the revelations in March of last year.
The privacy oversight measures would be required in addition to the record-breaking fine Facebook is expected to pay as a part of the settlement.
-
Business6 days ago
TikTok Shop expands its secondhand luxury fashion offering to the UK
-
Business5 days ago
UnitedHealth says Change hackers stole health data on ‘substantial proportion of people in America’
-
Business6 days ago
Mood.camera is an iOS app that feels like using a retro analog camera
-
Business4 days ago
Tesla’s new growth plan is centered around mysterious cheaper models
-
Business3 days ago
Xaira, an AI drug discovery startup, launches with a massive $1B, says it’s ‘ready’ to start developing drugs
-
Business5 days ago
Two widow founders launch DayNew, a social platform for people dealing with grief and trauma
-
Entertainment4 days ago
Tesla’s in trouble. Is Elon Musk the problem?
-
Business4 days ago
UK probes Amazon and Microsoft over AI partnerships with Mistral, Anthropic, and Inflection