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In addition, Facebook will begin labeling political ads and providing information on them to users, including where the money for the ads came from.

In March, Cambridge Analytica whistlerblower Chris Wylie implicated the company during testimony before a Parliamentary committee, saying that the company used cooperated with and used information from Cambridge Analytica during the Britain's Leave campaign, and that it might have helped the campaigns sidestep political spending limits.

There's no indication that Facebook actually plans to introduce such an option, but Sandberg's admission makes explicit that Facebook's revenue depends nearly entirely on monitoring its users' taste and behavior. With the new feature, however, Facebook states that the process hasn't yet been finalised.

Later, it emerged that the firm had accessed the information of as many as 87 million people. AggregateIQ will lose all Facebook access.

"There's the good cases for sharing, and I think we were very idealistic and not rigorous enough", she said.

Sandberg outlined some of the steps the company is taking to fix the damage: On Monday, Facebook will begin notifying the 87 million users whose information may have been compromised and given to Cambridge Analytica, a data mining firm used by the Trump campaign. Hearings over the issue are scheduled in the US, and the European Union is considering what actions to take against the company.

On Friday, Facebook announced that it suspended the Canadian firm from operating on its platform.

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The EU and Facebook will be looking at what changes the social media giant needs to make to better protect users and how the USA company must adapt to new EU data protection rules.

Civil society and rights groups in Myanmar say Facebook has failed to adequately act against online hate speech that incites violence against the country's Muslim minority. Lots of users are viewing that move as a breach of trust. According to Facebook, "After Sony Pictures' emails were hacked in 2014 we made a number of changes to protect our executives' communications".

The news comes as Facebook grapples with the revelation that some 87m users may have had their personal data harvested by Cambridge Analytica, a political consulting group that worked on the 2016 USA election and Britain's European Union referendum vote.

Before there was Facebook in America, there was Facesmash at Harvard and Mark Zuckerberg was behind both of them.

It says Facebook representatives in Indonesia could face up to 12 years in prison and a fine of $871,000, if convicted.

Since the debate is all about greater transparency, the government should place in the public domain the response it has received not just from Facebook, but also from Cambridge Analytica (which last checked was still to respond).