Tech Giant Facebook to Start Disclosing More About Political Ads

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Technology giant Facebook, Inc. (NASDAQ:$FB) has announced that it will start disclosing more about political ads, bringing the network’s rules closer to what is required of conventional mediums like television.

The move comes just days before general counsel Colin Stretch is set to appear in front of congressional committees investigating into Russian ad spending on social media sites during the 2016 presidential election.

The Menlo Park, California-based company said federal political advertisers will be required to verify their locations and identities. Their ads will be appended with a “paid for by” disclosure, which is a requirement that will commence in the United States and then expand to other jurisdictions, the company said in a blog post. Further, Facebook announced that it is planning to create an archive of federal election ads. The purpose? So people can look historically at campaigns.

“We remain deeply committed to helping protect the integrity of the electoral process on Facebook,” the company said on Friday, October 27.

For those who don’t know, some of the most popular technology companies in the world, like Facebook and Twitter (NYSE:$TWTR), have been scrutinized by U.S. lawmakers for not recognizing and responding to Russian efforts to tamper with the 2016 election.

Featured Image: depositphotos/@Mactrunk

 

About the author: Caroline Harris is a third-year student at Capilano University in North Vancouver, Canada. Having already completed an Associates Degree in Psychology, Caroline is now finishing her Bachelor's degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.