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.

According to the FTC investigation, as reported by The Guardian, the only verifying that went on in Facebook’s verified apps program was the exchanging of cash, as apps were given the green check mark after their developers paid the social network $375 ($175 for students or nonprofit organizations), and no testing was ever done.

The FTC concluded, as reported by The Guardian:

Contrary to the statements set forth in paragraph 46, before it awarded the verified apps badge, Facebook took no steps to verify either the security of a verified application’s website or the security the application provided for the user information it collected, beyond such steps as it may have taken regarding any other platform application.

When Facebook yanked the program in December 2009, the social network said it would extend “the idea of verification to apply to all of the applications on the Facebook platform.”

Readers: Do you think the FTC should have done more about this?