A final report from Australia’s competition watchdog released on Friday called for greater anti-trust scrutiny of the dominant U.S. tech companies, recommending penalties and deterrents be imposed for inappropriate storage and use of personal data and breaches of consumer and competition laws.
“The world has never before seen so much commercially sensitive and personal data collected and aggregated in just two companies,” Treasurer Josh Frydenberg told reporters in Sydney. The government will announce what recommendations in the Australian Competition and Consumer Commission report that it will support through new regulation by the end of the year, he said.
The recommendations continue years-long attempts by regulators worldwide to loosen the companies’ grip on everything from advertising and search engines, to news, data and elections. The European Union has fined Google 8.2 billion euros over the past two years for antitrust violations, while on Wednesday Facebook agreed to a $5 billion settlement in the U.S. over privacy concerns.
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