It involves users sharing a pre-written status update that suggests the site is about to make their private information public.

Given its popularity, Facebook has been forced to issue a statement declaring that this is not the case.

One version of the scam reads: 'Facebook is now a public entity. All members must post a note like this. If you prefer, you can copy and paste this version.

'If you do not publish a statement at least once it will be tactically allowing the use of your photos, as well as the information contained in the profile status updates.'

Another one claims that members can pay a fee to have their information made private:

'Now it's official! It has been published in the media. Facebook has just released the entry price: £5.99 to keep the subscription of your status to be set to 'private'.' 

In response, Facebook wrote Monday: 'While there may be water on Mars, don't believe everything you read on the internet today. Facebook is free and it always will be. 

'And the thing about copying and pasting a legal notice is just a hoax. Stay safe out there Earthlings.' 

Facebook's terms of service say that users own all of the content and information they post on Facebook.

They can control how it is shared through their privacy and application settings.

This isn't the first time such a hoax has surfaced on Facebook. A version of this message first appeared on the social media site in 2013.

The latest scam plays on widespread fears that Facebook is misusing user data.

Last week, the company was accused of spying on users in a fashion similar to methods used by America's National Security Agency (NSA).

The comments were made by the Belgian Privacy Commission who brought a lawsuit against the social network, after accusing it of 'trampling all over European privacy laws'.

Frederic Debussere, a lawyer representing the privacy commission, made the comparison with the NSA during opening statements.

'When it became known that the NSA was spying on people all around the world, everybody was upset.

'This actor [Facebook] is doing the very same thing, albeit in a different way.' 

The data protection authority, which accuses Facebook of tracking non-users and those who have logged out of their accounts for advertising purposes, is threatening Facebook with a fine of 250,000 euros each day.

In May, the commission accused the social network of tracking people online without consent while dodging questions from national regulators.

The commission published a report analysing changes the company made to its privacy policy in January and said: 'Facebook tramples on European and Belgian privacy laws'.

(dailymail.co.uk)