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Australia threatens fines for social media giants enabling misinformation

Economic TimesEconomic Times · 3m
Australia threatens fines for social media giants enabling misinformation

Australia plans to fine internet platforms up to 5% of their global revenue for failing to counter the spread of online misinformation. The move aims to hold tech giants accountable, but has received criticism from free speech advocates. The government intends for tech platforms to establish codes of conduct that govern the prevention of dangerous falsehoods online, subject to regulatory approval. If platforms fail to comply, the regulator can set its own standards and impose fines. The legislation targets false content related to election integrity, public health, defamation, and critical infrastructure. The bill forms part of Australia's broader efforts to enhance regulation in the digital space.

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