The Information Commissioner’s Office, the privacy regulator in the U.K., is threatening Facebook with its maximum penalty over the Cambridge Analytica user data scandal, but the punishment would be far more symbolic than it would be damaging.
The maximum fine that can be levied by the ICO is 500,000 pounds, or approximately $662.5 million, which Bloomberg pointed out is less than 1 percent of the $114 million Facebook generated daily in 2017.
Violations of the European Union’s recently enacted General Data Protection Regulation can result in fines of up to 4 percent of a company’s annual sales—Bloomberg’s report noted that Facebook’s 2017 revenue of $40.65
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