Facebook May Strike Settlement with FTC

According to trusted sources, Facebook Inc. is about to enter into a settlement with U.S. Federal Trade Commission over various deceptive practices regarding several Facebook features that includes their privacy settings. This initiative shows growing concern over privacy in this digital era.

As per the report, Facebook has agreed for privacy audits for next 20 years. Facebook is also prohibited from publishing any piece of information shared originally by the user privately on this widely used social networking site without taking express permissions, New York Times notes.

The identity of the sources has not been revealed as Federal Trade Commission has not yet approved the settlement.

Andrew Noyes, Facebook spokesman and Claudia Farrell, FTC spokesperson denied from making any comment on the matter.

This is a part of FTC's efforts towards protecting consumer privacy online. This year in the month of March, FTC and Google entered into a similar agreement related to Buzz, a less successful social networking site. Last year, micro blogging site Twitter agreed to create a privacy program after FTC invested two incidences of security breach, reported New York Times.