Facebook receives first fine over Cambridge Analytica

The UK this morning announced a 'preliminary' fine of £500,000 ($664,000) over the Cambridge Analytica data breach, a first in the case to date.  Issued by the Information Commissioner's Office (ICO), the fine is the maximum allowed under the older non-GDPR legislation and blames Facebook for "overlooking critical warning signs" that could have prevented it in the first place. The investigation looked at 172 organizations and 285 individuals who collected data and isn't final yet; the fine may change as the ICO continues to investigate with a further update due in October. If the scandal had occured post-GDPR, Facebook could be fined up to $1.63 billion instead, about four percent of its global revenue. Today's fine is pocket change (seven minutes of revenue) for Facebook, but it's the maximum allowed and sets a precedent for the future, now that such legislation is in place. –Facebook faces first CA fine ↗