Facebook to modify its terms to clarify consumer data use: EU

Facebook has made revision in its terms of service to make it clear to users that it makes money by using their data and committed to take responsibility if the user’s data has been mishandled by third parties, the European Commission said Tuesday.

The rising pressure from the European Commission and consumer authorities forced the world’s largest social media network bowing down to them by making those changes, as the company is already under fire on both sides of the Atlantic and has been facing several privacy-related issues as well as investigations including the one for exposing the passwords of millions of users.

The changes turned the terms and conditions of the Facebook’s service in plain and comprehensive language making it clearly explaining to the users to better informed that the Facebook collects their data to finance itself by using it to develop targeted advertising and profiling activities.

The users will now able to clearly understand that social network uses their data to sell them targeted ads, Commission Justice Commissioner Vera Jourova said in a statement.

From now onward, the social media giant will keep the content deleted by user up to 90 days or only when requested by enforcement authorities to do so; and will only modify the terms and conditions unilaterally when it will be deemed necessary.

The changes made by the company came after discussion with the European Commission and European consumer protection authorities.

After the Facebook’s data privacy scandal of Cambridge Analytica, which came on improperly harvesting the data of social network’s 87 million users, EU regulators, who also wanted the tech companies to align their terms with European consumer laws, intensified the scrutiny of company’s terms and conditions.

Facebook will have to face enforcements measures including unspecified sanctions, if it failed to make all the changes by the end of June, said the commission.

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Maria Wiggins

Written by Maria Wiggins

Maria Wiggins:- News Stories
I am Maria Wiggins and I have over 11 years experience in the Technology industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.

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