Cambridge Analytica shuts down business with immediate effect amidst data theft row
Data analysis firm Cambridge Analytica, which used voter data collected from Facebook to help influence the 2016 USA presidential election, officially shut down on Wednesday, just after yet another scandal rocked the company.
The British firm was accused of improperly using the Facebook data from 87 million people, including 45,000 in Ireland, to influence elections.
Cambridge Analytica said a "siege of media coverage" of its dealings with Facebook has driven away customers, leaving the business no longer viable.
The spotlight on Cambridge Analytica only grew with the prominence of Mueller's probe.
Denham said the prime allegation against Cambridge Analytica is that it acquired personal data in an unauthorised way, adding that the data provisions act requires services like Facebook to have strong safeguards against misuse of data.
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Cambridge Analytica was linked with Vote Leave ahead of the European Union referendum in June 2016, and Donald Trump's presidential campaign the same year. It had touted its role as swinging the presidential election.
Bannon was not concerned whether campaign ads created and promoted through Cambridge Analytica had false information because he was trying to win a "culture war", Wylie testified.
The company maintains it did nothing wrong, and in its release said it was "the subject of numerous unfounded accusations". Koum's strong stance on privacy is seen as motivation for his departure.
But now, a month and a half after the Facebook scandal, it appears Rebekah and Bob Mercer's data arm is ready to surrender. It's also preparing to file for bankruptcy. "It's open season for anyone to say what they like about Cambridge Analytica", the company lamented at one point. Most of the employees work in its central London headquarters. A source close to the matter told the Journal that the company is closing its doors because it lost several clients in recent months and faces growing legal fees as part of the Facebook investigation.
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