The viral status update begins with an alarming statement, "All your posts can become public tomorrow," which can easily frighten several users. The post demands that users share the legal-sounding message on their walls to prevent Facebook from making any private information public. As a result, the post was flooded on users' news feeds as concerned friends shared them with hopes of keeping their private information safe.
You may have seen a post telling you to copy and paste a notice to retain control over things you share on Facebook. Don't believe it. Our terms say clearly: You own all of the content and information you post on Facebook, and you can control how it's shared through your privacy and application settings. That's how it works, and this hasn't changed," Facebook wrote.
If users are concerned about their privacy on Facebook, there are settings that limit strangers from accessing any posts, photos or content that has been shared by you. The Privacy Settings option, which can be accessed from the top right hand menu, allows users to review posts, limit the audience for posts, choose who can send friend requests, look up using the email address, phone number provided on the profile. In fact, Facebook allows users to block specific people on the platform.
There is no assurance that such posts will not reappear in the time to come, but it is best to be advised to not fall for the hoax again. Although, sharing the post doesn't harm you in anyway, it will at least make you look less foolish on a global social media platform when such hoaxes are busted.