Facebook fined 0.001% of its 2017 revenue for Cambridge Analytica scandal

One of the biggest revelations of 2018 is that Facebook has completely dropped its users by allowing Cambridge Analytica to access personal data without their consent. For this massive violation of privacy, Facebook has been fined a whopping $ 500,000?

The meager fine – which is around euros $ 565,000 or $ 645,000 – was made public today by the Office of the Information Commissioner of the United Kingdom and cements the initial decision rendered in July by the Guardian

It's not a genius to understand that the fine is a pocket change for the social media giant. The company exceeded in turnover in 2015, which would represent a fine of about 0.001% of last year's turnover. Quartz calculated that it would only take a few minutes for the company to recover the amount of the fine.

British authorities are not intentional with Zuck and his friends The highest amount they can inflict on the company is a fine of £ 500,000 because of the ceiling set in it. old legislation on data protection.

The story, however, has a positive aspect: the next fine could be heavier.

The new ambitious EU data regulation, of the GDPR which unfortunately only took effect after the Cambridge Analytica scandal – considerably increases the maximum fine for infringement to data security. It authorizes fines of a maximum amount of 20 million euros or 4% of the total annual turnover of the company, the highest amount being retained.

This means that if Facebook were to be fined afterwards for a similar offense, it could be required to pay 1.4 billion euros, based on the revenues of 2017. Now this could actually hurt.

This painful fine may not be very far. Last month, Facebook announced that a new data breach had affected 50 million users . The neglected treatment of personal data by the technology giant led to a new investigation by the Data Protection Commission of Ireland. If Facebook is fined for this latest offense, it would be under the new GDPR reinforced with its new threatening cap.

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