If you calculate Facebook’s estimated revenue for a period of just 7 minutes, it’ll turn out to be around $665,000. When you compare it to the fine imposed by the U.K. Information Commissioner for Facebook data leak of as many as 87 million users, you won’t notice much difference.
However, as per the rules, the UK watchdog has imposed the “maximum penalty allowed.” If you look at the brighter side, it surely confirms the wrongdoings on the part of the social networking website.
The accusations made by the Commissioner’s office pertain to not protecting user data properly and not making clear how the user data was shared with others, according to The Washington Post.
If the data leak would had taken place after the new GDPR rules which came into action on May 25, the fine levied could have been much higher. As per the new rules, it could now lead to fines as much as 4% of a company’s annual revenue.
Apart from Facebook, the probe is also covering more companies and there are plans to send warning letters to 11 political parties. The watchdog believes that the Cambridge Analytica’s affiliate companies may still retain some data, and steps need to be taken to ensure a complete cleanup.