Facebook (NASDAQ:FB) is vowing to be more transparent about its privacy policies, announcing it will share its practices with a new board of directors committee and with the Federal Trade Commission.
In a blog post, the tech company said it plans to place more emphasis on privacy as a company, and will hire a third-party independent assessor to review its privacy practices and report their findings to both the FTC and the board's newly created Privacy Committee of.
"Protecting people's privacy is the central focus of my team, and we're making sure everyone at Facebook knows that privacy is their responsibility, too," wrote Chief Privacy Officer Matt Protti. He noted that Facebook is also creating a webpage where it will share updates about its privacy efforts, and said that all employees are now required to complete privacy training courses each year.
It's no secret that Facebook has a questionable record when it comes to protecting users' data. In July, it was fined $5 billion by the FTC over the Cambridge Analytica scandal in which that now-defunct political consulting company accessed the private information of more than 87 million Facebook users without their consent. As part of its settlement with the FTC, Facebook said it would create a Privacy Committee that would be tasked with ensuring its compliance with the government agency's regulations. It was the largest fine ever levied on a company for violating privacy rules.