After Facebook Scandal, Cambridge Analytica to Shut Down

  • After Facebook Scandal, Cambridge Analytica to Shut Down

After Facebook Scandal, Cambridge Analytica to Shut Down

Sticking to its guns, Cambridge Analytica noted that the Queen's Counsel Julian Malins, tasked with probing the London-based company over its dodgy data use, found that the allegations were not "bourne out by the facts".

State Democrats allege in their Federal Election Commission complaint that Tillis' campaign and the state Republican Party violated the law because Cambridge Analytica employees were foreign nationals who helped make key campaign decisions.

The announcement was made only hours after cybersecurity expert Chris Vickery gave evidence before the DCMS committee detailing the role Cambridge Analytica allegedly had in supporting the pro-Brexit 2018 European Union referendum campaign, alongside Canadian data firm Aggregate IQ (AIQ); Vickery also noted that "beyond a shadow of a doubt" there had been collusion between pro-Brexit campaigns during the referendum. It announced Wednesday that it's closing down because of what it considers vilification in the media.

What are the accusations against Cambridge Analytica? Trump's campaign denies having used CA's data.

Facebook-Cambridge Analytica fiasco started in 2014, when an academic of Russian origin - Aleksandr Kogan, created a Facebook app which paid thousands of users to take a psychological test.

But the company's announcement left several questions unanswered, including who would retain the company's intellectual property - the so-called psychometric voter profiles built in part with Facebook data - and whether Cambridge Analytica's election business would return under new auspices. The British data collection and analysis firm and its parent company SCL Elections Ltd.

Facebook's audit of the firm has been suspended while United Kingdom regulators conduct their own probe. A Facebook spokesman has said, "This developments will not affect our commitment and determination to ensure that the whole issue is understood and not to do so again".

Zuckerberg has said it was a mistake to rely on Cambridge Analytica to delete tens of millions of Facebook users' data and has apologised for the "major breach of trust".

Cambridge Analytica defended its use of Facebook, saying it was "vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas".

One of Cambridge Analytica's major investors is the USA hedge fund billionaire Robert Mercer. Reportedly, the data was used in election campaigns of POTUS Trump including many other worldwide allegations.

Appeared and seen as the CEO Alexander Tayler also stepped down in the month of April which marked its return to his preceding post as chief data officer.

Therefore, at this point it is safe to say that lack of clients, and by extension funding, coupled with public outage and a series of open investigations forced the company to shut down its business operations.