Facebook Cops £500K Fine For UK Data Breach
Facebook has been fined £500,000 for two breaches of the UK Data Protection Act, following its Cambridge Analytica breach early this year – despite receiving the maximum penalty, some commentators claim it’s just a slap on the wrist for the social media giant.
The UK’s Information Commissioner’s Office (ICO) deems Facebook contravened the law by failing to protect the information of millions of users.
The social media giant also failed to adequately advise how users’ data was collected by others.
With revenues exceeding US$40 billion in 2017, commentators claim the £500,000 (~$A893,000) fine is a measly consequence.
More severe ramifications will likely occur after new GDPR laws, with companies at risk of being fined up to €20 million or 4% of global annual turnover (the highest of either).