Cambridge Analytica and British Parent Shut Down After Facebook Scandal

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The Information Commissioner's Office (ICO) was investigating the firm as part of a wider probe involving social media companies, data analytics firms, political parties and campaigns.

The company's recently appointed CEO Julian Wheatland told staffers that the company had evaluated all options and no longer saw a way forward.

Cambridge has denied wrongdoing, and Trump's campaign has said it didn't use Cambridge's data, reports AP. Reacting to the news, senior IT Ministry officials in New Delhi said the Indian Government will continue with its enquiry into the Cambridge Analytica data leak issue.

In a statement Wednesday, Facebook said, "This doesn't change our commitment and determination to understand exactly what happened and make sure it doesn't happen again".

Mr Zuckerberg has said it was a mistake to rely on Cambridge Analytica to delete tens of millions of Facebook users' data and has apologised for the "major breach of trust".

Quizzing the British firm on the non-disclosure pacts signed by the company with its associates and clients for Indian assignments, the government also asked it to share the templates that were used in signing such agreements.

Ms Denham said the prime allegation against Cambridge Analytica is that it acquired personal data in an unauthorised way, adding that the data provisions act requires services like Facebook to have strong safeguards against misuse of data.

The controversy has triggered a groundswell of criticism, investigations into both Cambridge Analytica and Facebook around the world, multiple hearings in the U.S. Congress and the potential for fines and other penalties.

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On Wednesday night, CA said it and SCL Elections would be commencing insolvency proceedings after "numerous and unfounded" accusations, vilification, and "siege of media coverage" had "driven away virtually all of the company's customers and suppliers".

The two women are daughters of the hedge fund billionaire Robert Mercer, who is reported to have been one of Cambridge Analytica's major investors.

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 sought information on Facebook to build psychological profiles on a large portion of the USA electorate.

The app, a personality survey called "yourdigitallife" built by Aleksandr Kogan, of Cambridge University, collected personal data from users and their Facebook friends, in line with the behaviour of many similar apps at the time.

Are Cambridge Analytica and its parent SCL Elections as dead as they seem?

"It's crucial that Facebook and Twitter and any entity that collects data, protects it", he said.

Cambridge Analytica did not immediately respond to a request for comment.