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There were seven privacy principles announced by Facebook. "But privacy controls are only powerful if you know how to find and use them".

Facebook will also make core privacy settings easier to locate. The company understands that everyone does not want to share everything with everyone.

Starting May 25, an European Union rule named the General Data Protection Regulation, or GDPR, will roll out, and some experts call it one of the biggest renovations to internet data privacy rules.

In Europe, Facebook has been the focus of several privacy investigations by government watchdogs in recent years.

GDPR is already shaking up the internet, and having major consequences for the whole world - not just countries in the EU. It also aims to guarantee a person free and simple access to their individual data.

The privacy principles include building privacy into all Facebook products, being held accountable to regulators, users owning the information they share and consistent information security among others.

Much More Than a Day: 2018 is Data Protection Year

Starting today, the social media giant will show educational videos in the news feed "that help you get information on important privacy topics like how to control what information Facebook uses to show you ads, how to review and delete old posts, and even what it means to delete your account". Moreover, with a customer base of more than 2 billion users, Facebook is the largest social network in the world.

Facebook created an adorable blue dinosaur back in 2014 to help educate its users about the social network's privacy settings. Facebook has also moved all its privacy setting to 1 page only instead of multipage privacy settings.

"Facebook was built to bring people closer together", said Egan.

Sheryl Sandberg, Facebook's Chief Operating Officer, while speaking in Belgium last week said that Facebook new changes will put it in line with EU's GDPR.

Facebook, which isn't famed for its transparent stance on privacy, also said on Monday that it works with designers, developers, privacy professionals and regulators to get input on its data practices and policies, adding that it's "constantly working" to develop new controls and design them in ways that explain things to people clearly. She assured that the company is striving to improve its privacy issues and for that it is investing heavily in protection tools.