Facebook was fined $650,000 for the Cambridge Analytica scandal, as much money as they earn in 9 minutes when comparing to their 2017 revenue.
The social media tech giant has over 2 billion members world wide and their 2017 revenue surpassed $40 billion.
The UK’s Information Commissioner’s Office released the following statement:
“The ICO’s investigation found that between 2007 and 2014, Facebook processed the personal information of users unfairly by allowing application developers access to their information without sufficiently clear and informed consent, and allowing access even if users had not downloaded the app, but were simply ‘friends’ with people who had,” the statement said.
Cambridge Analytica collected data from more than 87 million people using Facebook’s apps system to collect the data, the company CEO then revealed it was used to help elect Donald Trump for president.
Back in April Facebook founder and CEO Mark Zuckerberg said he learned from the mistake.
“Life is about learning from mistakes,” he told reporters. “At the end of the day, this is my responsibility. I started this place, I run it, I’m responsible.”
The Cambridge Analytica was revealed in March of 2018 when Facebook first acknowledged the issue, the company is based in London, UK.
Facebook is under political pressure for their conservative bias since Donald Trump won the election, a poll by Media Research Center shows one-third (32%) of self-described conservative Facebook users have left or are considering leaving Facebook due to political censorship.