UNITED STATES TRADE WATCHDOG the US Federal Trade Commission (FTC) has reached a settlement with social networking service Myspace that will see it submit to regular, independent privacy assessments.
The FTC said that Myspace must allow independent privacy assessors in for the next 20 years if it is to settle charges that it misrepresented how it protects its users' personal information.
"Following a public comment period, the Federal Trade Commission has approved a final order settling FTC charges that Myspace misrepresented its protection of users' personal information," it said in a statement.
"The settlement bars Myspace from future misrepresentations about its privacy practices, requires the company to implement a comprehensive privacy program, and calls for regular, independent privacy assessments for the next 20 years."
In May, Specific Media, the most recent owners of Myspace, said that the website would work hard to make sure that it respects users' personal privacy, and would under its new ownership avoid making the mistakes of the past.
"In order to put any questions regarding Myspace's pre-acquisition advertising practices behind us, Myspace has reached an agreement with the FTC that makes a formal commitment to our community to accurately disclose how their information is used and shared," it said.
"Myspace has further agreed to implement a comprehensive privacy program that will minimize future risks to the privacy and security of information. As part of this program, Myspace will conduct biennial independent audits of its privacy practices to ensure that we consistently fulfill this commitment to our community."
The FTC's announcement follows the closing of a period of public consultation. µ