Click For Photo: https://media.wired.com/photos/5d386d9955016300082b177d/191:100/pass/business_facebook_RTX6TTHC.jpg
MARK ZUCKERBERG’S NAME doesn’t appear anywhere in the 50-page complaint brought against Facebook by the US government Wednesday as it settled charges the company deceived millions of Americans over how it used and shared their personal information. But make no mistake: The Federal Trade Commission is not happy with how Zuckerberg has been running his company.
As part of the settlement order, Facebook has agreed not just to pay a record $5 billion civil penalty, as previously reported, but also to make substantial changes to the company’s structure and how it handles privacy issues. The order doesn’t hold any executives personally liable, as some commissioners had sought, but Zuckerberg will need to personally certify each year that Facebook remains compliant with its terms.
Millions - Americans - Information - Facebook - Understanding
“Millions of Americans entrusted personal information to Facebook with the understanding that Facebook would respect the laws governing consumer privacy, but Facebook’s many privacy missteps made clear that it lacked a culture of compliance in this area,” FTC commissioner Christine Wilson said at a press conference announcing the settlement Wednesday. “It was clear that we needed to erect speed bumps requiring both Mr. Zuckerberg and Facebook to slow down and take care with consumer privacy.” She said the commission couldn’t remove Zuckerberg as Facebook’s CEO, “but we have imposed a robust system of checks and balances that extinguishes his ability unilaterally to chart the path for consumer privacy at Facebook.”
Among other things, the settlement requires Facebook to change how it nominates people to its board of directors, and create a board committee dedicated to privacy issues that will be briefed quarterly by management. An outside, government-approved assessor—also new—will monitor Facebook’s compliance with the order and issue biannual reports to the board and the US government, though not necessarily the public. The FTC and the Department of Justice will both...
(Excerpt) Read more at: WIRED
Wake Up To Breaking News!