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Facebook’s slap on the wrist from the U.K. over the Cambridge Analytica scandal is in the record books, as the company agreed to pay a £500,000 ($644,731) fine, without being forced to admit any wrongdoing.
The Information Commissioner’s Office, the privacy regulator in the U.K., imposed its maximum financial penalty on Facebook, but that figure pales in comparison to the $16.886 billion in revenue reported by the company in the second quarter.
The ICO was limited to a £500,000 fine because the actions took place prior to the enactment of the European Union’s General Data Protection Regulation May 25, 2018.
The fine was originally imposed last October, but Facebook appealed, withdrawing its appeal this week.
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