EU: Facebook changes terms to show it makes money from data

phys.org | 3/29/2018 | Staff
amyc9948 (Posted by) Level 3
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Facebook has changed the fine print in its terms of service to clearly explain to users that it makes money by using their data, the European Commission said Tuesday.

The social media giant modified its terms and conditions to better inform users what they are signing up for, the commission said. The new wording will clearly explain how Facebook uses the data it collects on users to develop profiling activities and target advertising to "finance" the company, it said.

Company - Changes - Discussions - Commission - Consumer

The company made the changes after discussions with the commission and European consumer protection authorities. EU regulators stepped up scrutiny of Facebook's terms after the Cambridge Analytica data privacy scandal, in which data on 87 million Facebook users was allegedly improperly harvested. They also want tech companies to bring their terms in line with European consumer law.

If Facebook wants to restore consumer trust after the scandal, it "should not hide behind complicated, legalistic jargon on how it is making billions on people's data," European Union Consumer Commissioner Vera Jourova said in a statement .

Users - Data - Network - Ads

"Now, users will clearly understand that their data is used by the social network to sell targeted ads."

The changes are part...
(Excerpt) Read more at: phys.org
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