Published: Fri, May 04, 2018

Cambridge Analytica to shut down after massive scandal

Cambridge Analytica to shut down after massive scandal

Stein's office says 2,521,064 North Carolinians' data was shared with Cambridge Analytica, the company at the center of the data breach scandal, and other parties.

SCL Elections, its parent, as well as Cambridge Analytica began insolvency proceedings in Britain, and said they would soon start bankruptcy proceedings in the United States.

Allegations of the improper use of data for 87 million Facebook users by Cambridge Analytica, which was hired by President Donald Trump's 2016 USA election campaign, has hurt the shares of the world's biggest social network and prompted multiple official investigations in the United States and Europe.

Cambridge Analytica said on Wednesday that it had been the subject of "numerous unfounded accusations" and had been "vilified" for activities that were both legal and accepted as a "standard component of online advertising in both the political and commercial arenas".

The ousted Cambridge Analytica's CEO, Alexander Nix was listed as a director of Emerdata in February, until the firm chose to severe ties with him in March. Cambridge Analytica's practices, although it crossed ethical boundaries, is really emblematic of how data driven digital marketing occurs worldwide.

Just over a week ago, the company held a press conference that all national issues across the world, including in India, involving SCL Elections would be handled by an independent investigation.

Indian officials familiar with the questioning and notices sent in the data leak matter said the ongoing probe will continue as the liability of the company existed prior to the closure announcement. The report by TechCrunch questioned whether this was truly the end for Cambridge Analytica, or whether the firm is simply waiting for the media to lose interest and focus elsewhere. In total, Facebook has said that Cambridge Analytica had access to data on 87 million people, including 71 million Americans, in its efforts to create detailed profiles about voters' backgrounds and behaviors, as well as what types of political messages might appeal to them based on their personalities.

SCL chairman Julian Wheatland, who was reportedly tapped to replace Nix as Cambridge Analytica's CEO before it announced its closure, is listed as Emerdata's CEO, Share Blue Media reported.

"We've got to make sure that this is not an attempt to run and hide, that these companies aren't closing down to try and avoid being rigorously investigated", Collins said, ABC News reported.

Cambridge Analytica marketed itself as a provider of consumer research, targeted advertising and other data-related services to both political and corporate clients.

On the other hand, the notice to Facebook had taken note of the USA social networking company's candid admission of unauthorised use of its user data by Cambridge Analytica. It also asked whether the company harvested any data through third-party apps and whether or not mining of such data was done with user consent. At SCL's Washington, DC office, a man declined to answer questions from a Reuters reporter.

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