Nigel Hastilow: Facebook scandal is a lot of fuss about nothing

Facebook and CEO Mark Zuckerberg are again under fire for data privacy practices

Following Facebook's recent privacy woes and breaches, the social media network has made a decision to mitigate further risks by cutting off access data brokers hitherto had to its multi-billion dollar ad platform.

In a blog post, Facebook said it had been working on the updates for some time but sped things up to appease users' anger over how the company uses data and as lawmakers around the globe call for regulation.

Facebook's own Mark Zuckerberg reacted with an official words of apology, but those words had a hollow ring to them as the privacy breach had been reported months in advance and the company did not do anything about it before the public outcry. Had the controversy around Cambridge Analytica not happened, we could have seen the new products showcased at the company's developer conference in May.

Facebook Inc (FB.O) has adjusted privacy settings to give users more control over their information in a few taps, it said on Wednesday, after an outcry over a whistleblower's allegations that members' data was used to sway the 2016 US election.

To make data settings and tools easier to find, Facebook has redesigned its entire setting menu of mobile devices, with controls now accessible from a single place.

Of course this is all in response to the ongoing Cambridge Analytica scandal that, according to Facebook, saw user data mishandled by a third-party app and passed on to the firm.

The decision will affect third party brokers like Acxiom and Epsilon Data Management; both gather information to package and sell - at times to other data brokers, or perhaps to marketing agencies who would use insights from platforms like Facebook to hone their customer targeting.

In terms of the updated settings menu, Facebook has promised that "instead of having settings spread across almost 20 different screens, they're now accessible from a single place".

On Tuesday, tech shares led a broad slump on Wall Street, with an index of key tech stocks losing almost six percent.

One of the new features is called "Access Your Information", she said, allowing people to manage their data such as comments and search terms.

It was uncertain whether the changes will satisfy lawmakers.

The company is looking to show the ad world it's serious about protecting consumers' data. They apply to any company that collects data on European Union residents, no matter where it is based. "Perhaps the most interesting aspect of Facebook's proposed privacy update is that it may make the GDPR the global standard for data privacy - which would be fantastic news for consumers".

Playboy says it's been hard anyway to "express our values" because of Facebook's strict content and policy guidelines, which include restrictions on nudity.

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