According to reports, the UK-based firm used data of millions of Facebook users without their consent to influence the 2016 US elections.

The Board of Cambridge Analytica Tuesday announced that it has suspended CEO Alexander Nix with immediate effect, pending a full, independent investigation.

"In the view of the Board, Mr. Nix’s recent comments secretly recorded by Channel 4 and other allegations do not represent the values or operations of the firm and his suspension reflects the seriousness with which we view this violation.

"We have asked Dr. Alexander Tayler to serve as acting CEO while an independent investigation is launched to review those comments and allegations," the company said in a release.

"We have asked Julian Malins QC to lead this investigation, the findings of which the Board will share publicly in due course," it said.

"The Board will be monitoring the situation closely, working closely with Dr. Tayler, to ensure that Cambridge Analytica, in all of its operations, represents the firm’s values and delivers the highest-quality service to its clients."

The statement was released ahead of airing of the expose by Channel 4 News in the UK.

Even though several other apps on Facebook uses user data, Cambridge Analytica has been accused of breaking the rules as it obtained the said data under a veiled motive, telling users that it was for academic use.

Reacting to the fiasco, a report from Facebook Newsroom read, "In 2015, we learned that a psychology professor at the University of Cambridge named Dr. Aleksandr Kogan lied to us and violated our Platform Policies by passing data from an app that was using Facebook Login to SCL/Cambridge Analytica, a firm that does political, government and military work around the globe. He also passed that data to Christopher Wylie of Eunoia Technologies, Inc.

"Although Kogan gained access to this information in a legitimate way and through the proper channels that governed all developers on Facebook at that time, he did not subsequently abide by our rules. By passing information on to a third party, including SCL/Cambridge Analytica and Christopher Wylie of Eunoia Technologies, he violated our platform policies.

"When we learned of this violation in 2015, we removed his app from Facebook and demanded certifications from Kogan and all parties he had given data to that the information had been destroyed. Cambridge Analytica, Kogan and Wylie all certified to us that they destroyed the data," the company said.

"Several days ago, we received reports that, contrary to the certifications we were given, not all data was deleted. We are moving aggressively to determine the accuracy of these claims. If true, this is another unacceptable violation of trust and the commitments they made.

"We are suspending SCL/Cambridge Analytica, Wylie and Kogan from Facebook, pending further information," the statement added.

Meanwhile, UK's Information Commissioner Elizabeth Denham has said that she will seek a warrant against the British firm to investigate the databases and servers used by Cambridge Analytica.

She told Channel 4 News, "I'm not accepting their response so therefore I'll be applying to the court for a warrant."

"We need to get in there, we need to look at the databases, we need to look at the servers and understand how data was processed or deleted by Cambridge Analytica,"she said.

Releasing a footage obtained via a sting operation, Channel 4 News aired on Monday an interview of Cambridge Analytica chief executive Alexander Nix, where he is seen discussing tactics with the undercover reporter on how the firm would discredit politicians online.

Nix spoke about sending Ukrainian girls around to the candidate's house, adding that these girls 'are very beautiful, I find that works very well'.

He said another way to lure the target is to 'offer them a deal that's too good to be true and make sure that's video recorded'.

The company first denied any wrongdoing.

"In playing along with this line of conversation, and partly to spare our 'client' from embarrassment, we entertained a series of ludicrous hypothetical scenarios," a company statement read.

It added, "Cambridge Analytica does not condone or engage in entrapment, bribes or so-called 'honeytraps'."       

However, the latest statement from the company said it has suspended its CEO pending investigation.

-(Writing by Sudipto Maity and Sujoy Dhar)

Banner Image: Screengrab of Channel 4 News sting