Facebook is rushing out a new design for privacy settings

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"The biggest difference is ease of access in settings, which fulfills Mark Zuckerberg's promise to make the privacy process and permissions more transparent to users", Wedbush analyst Michael Pachter said.

Another source of concern about smart speakers and digital assistants are hidden vulnerabilities within them; as these devices are meant to be connected up to everything from your lights to your doors, users are concerned that hackers could cause physical damage or hack the devices for other nefarious purposes such as committing burglaries. The ad preferences lets you control what ads you see and what information Facebook uses to choose the ads you see.

Managing who sees posts and profile information. The data also includes your chat history on Facebook and list of IP addresses from where a user has logged into their account.The list also mentions political and religious views in the list of information based on whether the user has shared this in their about section.

The data policy will also be updated to better explain the type of data collected, and how its being used. Although Facebook has never technically obfuscated the fact that it collects your message logs and call data, the extent of its scraping only came to light last week when a New Zealand man found all the data in his Facebook archive.

The Facebook-Cambridge Analytica data leaks scandal has once again raised privacy fears and questions around how big companies like Facebook and Google are storing user data.

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The change comes amidst increased understanding of how poorly Facebook handles users' data and particularly how it made it possible for third-party developers to get access to millions of users data. Now a new report from Bloomberg claims that the social media giant will delay the launch of its smart speakers which were slated for a launch at Facebook's F8 developer conference in May.

Facebook on its part is said to feel "comfortable with the integrity of its data sourcing within the first two categories", but not so much about business with third parties.

Among them are a promise to inform people who may have been impacted by Cambridge Analytica's data use and to audit apps that had access to Facebook data. Facebook also said it's making it easier to download data you've shared so you can save a secured copy of photos, contacts and posts to another service.

"We are beginning work on this and will have more details as we finalise the program updates in the coming weeks".

In the wake of public outcry over the data collection, Facebook now says it is overhauling its privacy and security settings. "With the GDPR coming into force in a couple of months, data privacy is now high on many organisations' agendas".