alphadogg writes "Facebook is going to pay hackers to find problems with its website — just so long as they report them to Facebook's security team first. The company is following Google and Mozilla in launching a Web 'Bug Bounty' program. For security related bugs — cross site scripting flaws, for example — the company will pay a base rate of $500. If they're truly significant flaws Facebook will pay more, though company executives won't say how much. 'In the past we've focused on name recognition by putting their name up on our page, sending schwag out and using this an avenue for interviews and the recruiting process,' said Alex Rice, Facebook's product security lead. 'We're extending that now to start paying out monetary rewards.'"