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Facebook to Report on Its Privacy Efforts to the FTC

By Donna Fuscaldo – Jun 18, 2020 at 9:25AM

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The social media giant will also hire an outside party to assess its privacy practices.

Facebook (META -2.88%) 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. 

A keyboard with the word privacy written in blue on one of the keys.

IMAGE SOURCE: GETTY IMAGES.

"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. 

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Donna Fuscaldo has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook. The Motley Fool has a disclosure policy.

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