Facebook Privacy Practices Get FTC Shakeup

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By: Elinor Mills | Cnet

Facebook settled a federal complaint about its privacy practices, making major changes to the way it handles user information in order to clear away an issue that could have overshadowed its expected–and long awaited–IPO.

As part of the settlement, Facebook agreed to let users “opt into” changes that alter how their personal information is shared with advertisers and other users, to disclose the information it shares with third parties and to submit to two decades of annual “privacy audits” to ensure its compliance.

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