More than 311,000 Australians could be eligible for a ï"¿share of $50 million from Facebook's parent company Meta as a part of a landmark settlement stemming from the Cambridge Analytica privacy breach.

The deadline is fast approaching for those eligible to claim their portion of a significant settlement.

Here's the essential information you need to know about the settlement and the criteria for eligibility.

Eligible participants include those who either installed the "This Is Your Digital Life" app or were Facebook friends with someone who did.

The amount affected Facebook users will be paid will depend on how many people register for the compensation program.ï"¿

Eligible Australians have until December 31 to make a claim for compensation.

ï"¿However, another 311,074 Australian Facebook users were friends with those 53 people, which meant the app could have requested their information as well.