Social networking sites like Facebook provide small e-tailers with a massive marketing opportunity. But it’s vital to stay current with site policies. Facebook’s rapid growth brings more changes to its privacy policies, and EsecurityPlanet.com takes a look at what’s coming.

As it passed another major milestone, social networking giant Facebook is moving once again to overhaul its privacy policies in a bid to give users greater control and understanding about how their information is shared.

In a blog post late Tuesday night, Facebook co-founder and CEO Mark Zuckerberg said the company is abandoning its regional networks, the groupings of users devised by where they live, that had guided the company's approach to privacy.

Under the previous model, a user's information was shared by default with other members of his network, be it a school, club, city, or even a country.

Zuckerberg said that in the next two weeks, Facebook will phase out the network approach and prompt users to review their privacy settings.

The reason given? Facebook's growth continues unabated, making the regional networks too unwieldy to guide its privacy model for individual users, Zuckerberg said, taking the occasion to note that Facebook has now signed up more than 350 million users.

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