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Tech companies face landmark fines under EU’s new content rules | Fin24

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The world’s biggest technology companies could face billions of dollars in fines for breaches of new European Union legislation after lawmakers reached an agreement on its scope during the early hours of Saturday morning. | Fin24

Big tech will have to comply with new EU content rules Failure to comply could cost companies billions of dollarsThe world’s biggest technology companies could face billions of dollars in fines for breaches of new European Union legislation after lawmakers reached an agreement on its scope during the early hours of Saturday morning.

- A ban on so-called “dark patterns,” specifically tactics to push people into consenting to online tracking Google said it welcomed the DSA’s goals and looked forward “to working with policymakers to get the remaining technical details right to ensure the law works for everyone.” Large companies, including the likes of TikTok and Pornhub, will face additional obligations including opening their algorithms to enforcers and designated researchers.

The new fines are in addition to penalties applicable under the DMA. Under that law, the world’s biggest tech companies face fines of as much as 10% of their global annual sales for an initial breach, rising to 20% for repeat infringements. Those routinely violating the rules could be temporarily banned from conducting mergers and acquisitions. Still, it’s highly unlikely the EU would issue such massive fines.

 

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Fin24 You think Google will feel a few billion euro fine? It's Google ffs.

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