The Federal Trade Commission is keeping a close eye on the new owner of the social networking site. The agency was given oversight of security and privacy practices at the company after striking a settlement with it.
The FTC is keeping a close eye on recent developments at the social networking site. Companies must follow the consent decree if they want to stay above the law. We are prepared to use the revised consent order's new tools.
The statement came after several key security and privacy executives resigned or were dismissed.
The Washington Post was the first to report on the FTC's concerns.
Shortly after taking over the company, Musk fired the former CEO and policy chief. The most recent to announce their departure was Chief Information Security Officer. In addition, Musk cut half of the workforce.
According to internal communications obtained by CNBC, three executives involved in information security, privacy and compliance have recently resigned. A worker warns that the FTC can fine the company billions of dollars if it violates the decree. If peers feel uncomfortable with tasks they are assigned, the author advised them to reach out to the FTC or the ethics hotline.
Workers are reminded that Peiter "Mudge" Zatko reached out to a law firm to go public with complaints about the company's security practices Pierre Omidyar, the founder of eBay, has been a critic of the Big Tech firms.
The latest settlement with the FTC builds on a previous agreement with the company that required it to install reasonable privacy safeguards. The FTC gained new concessions from the company about how they would protect user data after they agreed to pay a $150 million penalty for deceiving users. The enhanced privacy program and information security program will be installed by the company.
The FTC statement was not immediately responded to by the social network.
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