Australia Threatens to Fine Social Media Companies for Failing to Curb ‘Fake News’ Spread

Australia has unveiled plans to impose severe penalties on tech companies that fail to curb the spread of online misinformation.

Under the proposed legislation, internet platforms could face fines of up to 5% of their global revenue if they do not take appropriate steps to address harmful content.

The new rules will require tech companies to create their own codes of conduct to tackle misinformation. Should they fail to do so, regulators will have the authority to intervene, establish a standard, and impose fines for non-compliance.

This measure aims to hold platforms accountable for the content they allow to circulate, particularly when it poses risks to public safety or national security.

The bill, set to be introduced in Parliament on Thursday, focuses on false information that undermines election integrity, threatens public health, incites violence, or endangers critical infrastructure or emergency services.

It forms part of Australia’s broader effort to tighten regulations on global tech giants, which the government argues have undermined the nation’s sovereignty.

As the country approaches a federal election within the next year, Australian leaders have grown increasingly vocal about the unchecked influence of tech companies.

Facebook’s parent company Meta has already responded, suggesting it may block professional news content on its platform if forced to pay royalties. Meanwhile, X (formerly Twitter), under the ownership of Elon Musk, has drastically reduced its content moderation since the acquisition in 2022.

Communications Minister Michelle Rowland emphasized the importance of the new legislation, stating, “Misinformation and disinformation pose a serious threat to the safety and well-being of Australians, as well as to our democracy, society, and economy.”

A previous version of the bill, introduced in 2023, faced criticism for granting excessive power to the Australian Communications and Media Authority (ACMA) in defining what constitutes misinformation and disinformation.

The revised bill, however, clarifies that the regulator will not have the power to order the removal of individual posts or user accounts.

The legislation represents a significant step in Australia’s ongoing efforts to regulate tech platforms and ensure they are more accountable for the content they host.

Sola Adeniji

News Reporter, Freelancer, and content creator

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