Facebook is to be fined a total of £500,000 over the Cambridge Analytica scandal for failing to protect its user’s data and failing to clearly communicate how it was being used by companies.
Elizabeth Denham, the Information Commissioner stated: “Facebook has failed to provide the kind of protections they are required to under the Data Protection Act”.
The fine is highly unlikely to affect Facebook as the social media platform makes around £500,000 every five and a half minutes.
Kyle Taylor, Director of campaigning group Fair Vote commented on the subject, “Under new GDPR (General Data Protection Regulation) laws, the ICO could fine Facebook £479m.”
“Unfortunately, because they had to follow old data protection laws, they were only able to fine them the maximum of £500,000.” he continued.
The incident has raised concerns from users and advertisers and Facebook is aiming to up their game and create more transparency on the platform by adding new features such as the recent view ads feature that enables everyone to view any ads currently advertised by pages.
What has happened to Cambridge Analytica?
The London-based company announced its closure on May 2, 2018 amid concerns over loss of clients and legal fees.
During the time of closure, Cambridge Analytica released a statement that read:
“Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.
“Despite Cambridge Analytica’s unwavering confidence that its employees have acted ethically and lawfully, which view is now fully supported by Mr Malins’ report, the siege of media coverage has driven away virtually all of the company’s customers and suppliers.
“As a result, it has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the company into administration.”
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