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Facebook appoints board-level privacy panel as part of $5bn US FTC settlement

Facebook appoints privacy panel as part of $5bn US FTC settlement

Facebook has reportedly reached a wide-ranging settlement deal with the US Federal Trade Commission as it seeks to put a spate of privacy and data failings behind it without conceding guilt.

Under the terms of the agreement, Facebook would form a privacy panel to advise it on potential issues going forward, in addition to coughing up a $5bn fine over previous allegations it had mishandled user privacy.

The board-level committee will be tasked with ensuring that the social network protects user privacy with chief executive Mark Zuckerberg himself forced to certify every three months that his company has a firm handle on the matter.

In doing so Facebook will hope to put to bed a range of related scandals which have overshadowed it in recent years amid widespread alarm at an absence of privacy for people communicating online which came to light during the Cambridge Analytica data scandal in which the details of 87m users were shared inappropriately.

This fine hasn’t placated Facebook’s many critics however who warn that the financial penalty is the equivalent of a ‘mosquito bite’ to the social network.

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