The investigating appears to focus on Cambridge Analytica’s financial dealings.
As per a New Yorks Times report, the FBI and the U.S. Justice Department are investigating Cambridge Analytica, the now-defunct political data firm that was embroiled in a massive scandal over its handling of Facebook Inc user data.
Prosecutors are wanting to question former Cambridge Analytica employees as well as banks that have handled its business, said the NYT citing sources familiar with the inquiry.
Earlier this month, Cambridge Analytica stated it was shutting down operations after it lost a number of clients; the firm is also facing mounting legal fees after it was disclosed that it harvested the personal data of millions of Facebook users, starting from 2014.
Allegations of the improper use of data for 87 million Facebook users by Cambridge Analytica, which was hired by President Donald Trump’s 2016 U.S. election campaign, have prompted multiple investigations in the U.S. and Europe.
According to the NYT report, the Justice Department’s and the FBI’s investigation appears to focus on the company’s financial dealings and how it acquired and used personal data pulled from Facebook and other sources.
Cambridge Analytica was created in 2013 and its initial focus was the 2016 U.S. Presidential election. It had received a $15 million backing from Robert Mercer a billionaire Republican and its name was selected by Steve Bannon, a former White House adviser to Trump who left his job in August 2017.