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Social Media Giant Agrees To Pay Fine Imposed By Regulators.

Earlier Facebook fought legal battles over privacy breaches. The tech giant has agreed to pay a 500,000 pound fine for breaches of data protection law related to the harvesting of data by consultancy Cambridge Analytica, Britain’s information rights regulator said on Wednesday.

In past Facebook CEO Mark Zuckerberg has faced questioning by U.S. and EU lawmakers over how the political consultancy obtained the personal data of 87 million Facebook users from a researcher.

According to Reuters, the Information Commissioner’s Office issued the small but symbolic fine last year after it said data from at least 1 million British users had been among the information harvested by Cambridge Analytica and used for political purposes.

ICO Deputy Commissioner stated that “The ICO’s main concern was that UK citizen data was exposed to a serious risk of harm. Protection of personal information and personal privacy is of fundamental importance.”

Furthermore, he added, “We are pleased to hear that Facebook has taken, and will continue to take, significant steps to comply with the fundamental principles of data protection.”

Tech giant claimed was pleased to have reached a settlement and the company wished it had done more to investigate the claims about Cambridge Analytica in 2015.

Facebook legal advisory board stated, “We made major changes to our platform back then, significantly restricting the information app developers could access.”

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