Facebook agrees to regular probes as part of FTC settlement

Facebook FTC Privacy Settlement

Facebook (FB) won’t be paying a massive $22.5 million fine like Google (GOOG) did as part of its settlement with the Federal Trade Commission, but it will have to submit to regular third-party audits to ensure it’s not inappropriately handling its users’ data. The Wall Street Journal reports that Facebook will now need to gain express permission from users before sharing their data with third parties and to “maintain a privacy program to protect consumers’ information.” Facebook agreed last November to settle FTC accusations that it was being deceptive in its data collection practices when CEO Mark Zuckerberg acknowledged the company’s mistakes and pledged to make Facebook “the leader in transparency and control around privacy.”

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