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FTC finalizes settlement with Twitter over Obama hack

The Federal Trade Commission approved a final settlement with Twitter on Friday that resolves allegations that the micro-blogging platform failed to adequately protect the privacy and security of its users.

The settlement comes in response to a pair of attacks between January and May of 2009 during which hackers were able to gain access to the accounts of Twitter users, including President Obama.

As part of the settlement, Twitter agreed to tighten its security controls, perform security audits every other year for 10 years, and avoid misleading claims about its security practices. The settlement does not include any admission of wrongdoing by Twitter.

"Even before the agreement, we'd implemented many of the FTC's suggestions and the agreement formalizes our commitment to those security practices," Twitter said in a blog post last June when the settlement was announced.

The Commission approved the settlement unanimously 5 to 0. Every violation of the terms of the settlement could result in a fine of up to $16,000.