Facebook promises to monitor hate and fake news on the platform

- Facebook to monitor hate and fake news on its platform.

- Aims to be more transparent on content monetisation.

- Facebook and Google currently account for two fifth of global online advertising revenues.
In the wake of worldwide criticism of social media platforms over the insufficiency of their efforts in curbing hate and fake news that has gone rampant worldwide, Facebook has
on Wednesday indicated that it would introduce a new set of rules to monitor these activities online.

Facebook's Senior Vice President for Global Marketing Solutions Carolyn Everson disclosed in a blog post that new standards will be introduced to provide clearer guidance on which publishers are eligible to earn money on Facebook and with what content

Facebook, together with Alphabet's Google, accounts for around two fifths of internet advertising, which is forecast by consultancy Zenith to grow by 13 percent to $205 billion this year overtaking television as the biggest channel for companies to pitch their wares to consumers.

"We hear them loud and clear," Everson wrote.

"We take very seriously our responsibility to earn and maintain the trust of our advertiser partners and give them the confidence they need to invest in us."

Facebook will also step up its monitoring of hate speech, adding 3,000 content reviewers to nearly double the size of its existing team.

"There is absolutely no place on Facebook for hate speech or content that promotes violence or terrorism," Everson said.

"As soon as we determine that content has breached our community standards, we remove it. With a community as large as Facebook, however, zero tolerance cannot mean zero occurrence."

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