REUTERS: Facebook Inc's potential settlement with federal regulators over breaches of consumer data privacy is nearing completion, and will likely cover related services like its WhatsApp messenger, the Wall Street Journal reported on Thursday, citing people familiar with the matter. https://on.wsj.com/2Y7dNr9
Politico reported on Wednesday that Facebook and the Federal Trade Commision (FTC) were negotiating a possible settlement that would require the company to create an independent privacy oversight committee and take other steps to safeguard users.
The FTC has been investigating revelations that Facebook inappropriately shared information belonging to 87 million of its users with the now-defunct British political consulting firm Cambridge Analytica. The probe has focussed on whether the sharing of data and other disputes violated a 2011 agreement with the FTC to safeguard user privacy.
Facebook announced last week that it has set aside US$3 billion to cover settlements with U.S. regulators.
It was not immediately clear whether Instagram, another Facebook-owned service, would be covered under the settlement being negotiated with the Federal Trade Commission, the Wall Street Journal report said.
Facebook and the FTC did not immediately respond to a Reuters' request for comment.
(Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Bernard Orr)