Facebook fined with just a penny as per UK's Data Protection Act 1998

Facebook Faces Fine equals to what it earns every 8 minutes.

As the country's data protection watchdog concluded that facebook's data-sharing scandal broke the law, facebook faces a fine $664,000 (500,000 Pounds)in the U.K. making it the  first social network's fine over the Cambridge Analytica Sandal.

Facebook has already been framed earlier this year when it had revealed that Personal details of millions of users was gathered improperly and was misused by political consultancy firm naming Cambridge Analytica, who reportedly helped Donald Trump in winning the US presidency in the year 2016.

It was also found that the social network giant(Facebook) was unable to give the justification about how personal information of its millions of users was harvested by others which violated the country's Data Protection Act,

The ICO stated,

"As per the significant finding by the ICO investigation it is concluded that Facebook has not been sufficiently transparent to enable its users in understanding how and why they might be targeted by a political party or campaign," ICO said in a detailed report released Wednesday.

However, Facebook is still given a chance of responding to ICO's Notice of Intent before a final decision on the £500,000($664,000) fine is made.

Besides the UK data protection watchdog, Facebook is also facing a probe by the U.S. Federal Trade Commission (FTC), which could also result in a substantial fine.