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Facebook has been fined half a million pounds by the UK's data watchdog,Watch When Women Play Golf Online the Information Commissioner's Office. The ICO fined Facebook £500,000 ($645,175) for "serious breaches of the data protection law," per the penalty notice.

The figure — which is the maximum fine that the ICO is able to impose — is still rather paltry compared to Facebook's net worth of £445bn. 

An investigation by the ICO revealed that between 2007 and 2014, Facebook "processed the personal information of users unfairly by allowing application developers access to their information without sufficiently clear and informed consent." Facebook also allowed "access even if users had not downloaded the app but were simply 'friends' with people who had."

Earlier this year, an investigation revealed that UK firm Cambridge Analytica harvested data from 87 million Facebook profiles without user consent.

"Facebook also failed to keep the personal information secure because it failed to make suitable checks on apps and developers using its platform," states an ICO statement.

"These failings meant one developer, Dr Aleksandr Kogan and his company GSR, harvested the Facebook data of up to 87 million people worldwide, without their knowledge."

Per the investigation, a "subset of this data" was shared with other organisations and SCL, Cambridge Analytica's parent company, which was involved in "political campaigning in the U.S."

The ICO also ruled that Facebook "did not do enough" after the data breach was discovered in 2015.

"Even after the misuse of the data was discovered in December 2015, Facebook did not do enough to ensure those who continued to hold it had taken adequate and timely remedial action, including deletion," the statement reads. "In the case of SCL Group, Facebook did not suspend the company from its platform until 2018."

Elizabeth Denham, Information Commissioner, said they consider the contraventions of data protection laws "so serious" that they imposed "the maximum penalty under the previous legislation."

"Facebook failed to sufficiently protect the privacy of its users before, during and after the unlawful processing of this data," Denham continued. "A company of its size and expertise should have known better and it should have done better."