If you’re running behind on your bills and suddenly find a friend request on Facebook from an attractive woman in a bikini whom you’ve never met before, think twice before accepting the add. As Bloomberg reported Thursday, debt collectors are taking on fake personas on Facebook to reach users who owe money.
Federal Trade Commission
Newton Lee’s book, Facebook Nation: Total Information Awareness, is a great book for social media experts, offering a comprehensive look at Facebook in the context of social media, and covering privacy well.
A change in the Child Online Privacy Protection Act (COPPA) means that children under the age of 13 can be shown ads targeted toward them when they’re online. This could lead to Facebook lowering its age of admission.
Facebook submitted a filing to the Federal Trade Commission seeking clarification on whether the social network and other websites will be able to show first-party advertising to children if the Children’s Online Privacy Protection Act (COPPA) is updated by the agency.
As more consumers rely on social networks for recommendations and reviews, more and more of that content, including likes on Facebook, is being paid for by brands, with a report from research firm Gartner projecting that 10 percent to 15 percent of social media ratings and reviews will be fake by 2014, going as far as to predict that the Federal Trade Commission will bring litigation against at least two Fortune 500 companies for such conduct over the next two years.
The long-awaited acquisition of Instagram by Facebook cleared another major hurdle on Wednesday. The California Department of Corporations approved the social network’s request to issue stock following the purchase of the popular photo-sharing application. While the deal has yet to officially close, it is almost a done deal.
It’s official: Photo-sharing application Instagram is now a Facebook entity. The Federal Trade Commission announced Wednesday that it has ended its investigation into the deal and given its blessing to go forward. The acquisition was first valued at $1 billion, but due to Facebook’s tumbling stock value, it’s now worth somewhere around $735 million.
Facebook’s pending acquisition of photo-sharing application Instagram cleared one hurdle across the pond when the U.K. Office of Fair Trading signed off on the deal.
When the Federal Trade Commission announced Friday that its privacy settlement with Facebook was finalized, one of the conditions mentioned in last November’s agreement was the social network’s December 2009 shuttering of its verified applications program. The Guardian offered more details on why the verified apps program was scrapped.
The privacy settlement between Facebook and the Federal Trade Commission, announced in late November of last year, is now finalized, as the period of public comment has expired.