Daily Management Review

Facebook fined half a million pounds in Britain


The British Information Commissioner (ICO) imposed on Facebook Inc., which owns the eponymous social network, a fine of £ 500 thousand (about $ 644 thousand) for cooperation with the British company Cambridge Analytica, which led to the leakage of personal data, reports CNBC.

Spencer E Holtaway
Spencer E Holtaway
According to British law, this is the maximum possible amount of the fine. Due to the statute of limitation, the General Regulations on the protection of personal data of the EU cannot be applied to Facebook: according to it, the company would face a fine of up to 4% of annual turnover, which is $ 1.9 billion.

The British regulator decided to fine Facebook on the results of an investigation into the use of personal data of social network users for political purposes. From the position of the department, the administration of Facebook could not ensure the proper security of information about its customers, and also conducted non-transparent activities regarding transfer of this information to third parties.

The investigation showed that from 2007 to 2014, Facebook dishonestly processed the personal data of users, passing them to the developers of mobile applications, and not to worry about getting “sufficiently clear informed consent” of those whose data they collected, according to the regulator's decision.

In particular, applications in the social network from Cambridge Analytica illegally collected personal data of more than 87 million users.

The unauthorized access to personal user data was not stopped until 2018. Thus, Facebook is guilty of not intervening in time and protecting user data.

As the Euronews portal estimates, the company will spend only 0.0016% of its income over the past year to pay the fine for cooperation with Cambridge Analytica.

source: cnbc.com

Science & Technology

Tech giants face stricter government regulation in the US

Nestle's Head: Veggie meat is new megatrend

Huawei may introduce Android replacement in August

Are US high-tech investors causing brain drain in Europe?

'Russia's Google' Yandex Was Hacked By Western Intelligence For Spying: Reuters

Reuters: Chinese hackers were stealing data from IT giants for years

China's first solar power molten salt plant sets record

WSJ announces imminent start of Boeing 737 MAX flight tests

Study: Machine learning is five times more harmful for the environment than a car

Would Singapore Be The First One To Bring Lab Grown Shrimps To The Global Market?

World Politics

World & Politics

France announces new tax for air fares

Europe Concerned Over Iran Move To Breach Uranium Enrichment Cap

Singapore To Build ‘$296 Million’ Smart Next-Gen Army Training Centre

No More Sales Of E-Cigarettes In San Francisco?

US ‘Hell-Bent On Hostile Acts’ Even After Trump-Kim Agreement, Says North Korea

Italy avoids EU sanctions for high national debt

Trump allocates 4.6 bln to help migrants

Iran Says Trump’s Belief That US-Iran War Would Be Short Is “An Illusion”