Facebook could be fined £1bn under new UK data law

FACEBOOK could face fines of up to £1.1 billion if it breaks data protection rules under a new law, the Culture Secretary said yesterday.

Matt Hancock warned the social media giant could see a mass exodus of users angry at the Cambridge Analytica data scandal.

He urged the company to ‘come clean with what data they really hold on people’.

His comments came as the Government said its advertising on Facebook was ‘under constant review’, while ISBA, the body which represents the British advertising industry, raised concerns with the site.

Shares in the web giant continued to fall yesterday, dropping 9. per cent since last Friday and wiping £3 billion off its value.

Mr Hancock said the Government will clamp down on abuses by social media networks, adding that new powers in the Data Protection Bill, which comes into force in May, will give Britain a ‘real chance’ to be the place that ‘sets the rules of how the internet works’.

The Information Commissioner will get powers to hand out fines of up to 4 per cent of global turnover to companies that flout the rules – more than £1 billion in Facebook’s case.

Mr Hancock added: ‘From May, if people lose trust in a social media platform they can move to another one at the click of a button. This will concentrate minds.’

David Kershaw, boss of British advertising firm M&C Saatchi, said last night: ‘On the one hand, Facebook is a fantastic advertising medium. However, it is clear they are somewhat out of control.’