Firm at center of Facebook privacy scandal to close

Daily Research News Online

Daily Research News Online

Facebook said it will resume its process of reviewing third-party apps using new, tighter controls after the Cambridge Analytica scandal revealed holes in the social network's data privacy protocols.

Facebook provided an estimate to Shapiro of the almost 3 million individuals in Pennsylvania impacted, in which it also estimated it shared a total of 70.4 million American users' data with third parties. The app collected data on tens of millions of people and their Facebook friends, even those who did not download the app themselves.Facebook has since tightened its privacy restrictions. At one point, the sell-off wiped $50 billion off the company's market value.

According to Emerdata's Companies House record in the United Kingdom, its business involves "data processing, hosting and related activities", while Alexander Nix, the suspended CEO of CA, was appointed as a director in February, only for this to be terminated in April.

Cambridge Analytica have been successfully controlling the minds of thousands of people - if not hundreds of thousands - since 2013.

The company set up a new data firm called Emerdata past year, and there is speculation in the press that it could be used as a rebrand vehicle for both Cambridge Analytica and its parent company SCL Group. That probe, which involves as many as 30 other companies, goes on.

After Trump won the White House in 2016, in part with the firm's help, Cambridge Analytica CEO Alexander Nix went to more clients to pitch his services, the Times reported past year. CA's British parent company, SCL Elections Ltd., will also be closing its doors after suffering a major loss in business, in the aftermath of the data scandal. That very day Cambridge Analytica's former chief data officer Alexander Tayler replaced Nix as Emerdata's new director. The New York Times reported that officials from Cambridge Analytica and SCL have raised the possibility of using Emerdata as a rebranding of Cambridge Analytica by buying the latter's data and intellectual property.

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And the contact address given for Rebekah Mercer is the same location as Cambridge Analytica's NY operation. "They are party to very serious investigations and those investigations can not be impeded by the closure of these companies", said MP Damian Collins.

The investigation into Cambridge Analytica and the firm's harvesting of data will continue despite the political analysis company declaring bankruptcy.

Facebook also says it will continue to seek answers "to understand exactly what happened and make sure it doesn't happen again". But, will this strategy work for the company? In 2016 they acted in the U.S. Presidential Elections and likely the U.K. European Referendum - the full extent of their actions may never be known.

It doesn't appear the closure would directly affect the parent company, SCL Group, making it more hard to get rid of evidence on insolvency grounds.

In a statement, Cambridge Analytica said it would immediately cease operations and bankruptcy proceedings would soon begin. Zuckerberg testified before the USA senators in April.

Revelations about the misuse of data, plunged Facebook into crisis and prompted regulators to open investigations.

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