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Facebook's settlement with US may include privacy oversight: Report

The potential agreement between the company and the FTC is in addition to the $3 billion Facebook said it would set aside last week to cover settlements with US regulators

Reuters 

election, facebook

Inc and the (FTC) are negotiating a possible settlement that would require the company to create an independent oversight committee and take other steps to safeguard users, reported on Wednesday, citing a source.

The steps would include appointing a official at the highest level of and creating a oversight committee that may include board members, the report said.

The potential agreement between the company and the FTC is in addition to the $3 billion Facebook said it would set aside last week to cover settlements with U.S. regulators, according to

The FTC has been investigating revelations that Facebook inappropriately shared information belonging to 87 million of its users with the now-defunct British political consulting firm The probe has focused on whether the sharing of data and other disputes violated a 2011 agreement with the FTC to safeguard user privacy.

Facebook would take on the role of "designated compliance officer" responsible for carrying out the company's privacy policies, the report said.

Both Facebook and the FTC declined to comment on the report.

 

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, May 03 2019. 03:53 IST
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