Facebook Retreats on Privacy; is to Submit Financial Report by April 2012

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The social networking site Facebook is on the verge of settling all discords with the US government.

Facebook Privacy Policies

It is accused of misguiding Facebook users of protection of their personal information. The US government is concerned with the safety of the confidential information of the users. According to the US government, Facebook will have to take the permission of users to create “material Retroactive Changes” of its privacy policies. This agreement wants Facebook to inform the users each time they are going to change their policies, in spite of the conditions to which the user has agreed to.

Federal Trade Commission is the body that is increasingly circulating for the privacy of the users. In this respect, Myriad Online Services is on the way of making new tools observe the behavioural pattern of the users that are used for profit of the site. The settlement is on the final stages of approval.

Users’ Privacy Concerns

There have been repeated complaints from myriads of gadgets and PC users who have charged Facebook for disclosing their personal information than they have allowed on their policies. Several advocates belonging to the electronic privacy information centre have filed complaints with the authorities regarding the misleading behaviour of the website management.

The settlement has branched out from the setting in 2009 of the site that will share information of the users, say photos friend list, name and so on by default. Mark Zuckerberg, the man behind Facebook, had called it simplification of privacy control at that time.

According to the terms of the settlement, Facebook will have to agree to privacy audits for twenty years. Matters are getting complicated as the value of the company rises to $100 million this year, and though the management has not disclosed any specific date but it is speculated that it will have to submit financial reports by April 2012.

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Category: Tech News

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