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The Information Commissioner’s Office, the privacy regulator in the U.K., followed through on its threat in July to impose its maximum financial penalty on Facebook due to the misuse of user data by Cambridge Analytica.
However, calling the punishment a slap on the wrist would be exaggerating matters.
The maximum fine that can be levied by the ICO is 500,000 pounds, or approximately $641,000, since the actions took place prior to the enactment of the European Union’s General Data Protection Regulation May 25.
Meanwhile, Facebook reported revenue of $13.231