Australia moves to fine social media companies that spread misinformation up to 5% of global revenue

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Australia goes after social media platforms to prevent the spread of misinformation

The Australian government threatened to fine online platforms up to 5% of their global revenue for failing to prevent the spread of misinformation — joining a worldwide push to crack down on tech giants like Facebook and X.

Meta boss Mark Zuckerberg has previously said that Facebook’s parent company may block professional news content from its platforms if it is forced to pay royalties. “There is movement and there is attention. Whether something will actually pass anytime soon is a big question mark,” News Media Alliance CEO and President Danielle Coffey told The Post.

“Misinformation and disinformation pose a serious threat to the safety and wellbeing of Australians, as well as to our democracy, society and economy,” said Communications Minister Michelle Rowland in a statement.An initial version of the bill was criticized in 2023 for giving Australia’s communications agency too much power in determining what constituted misinformation and disinformation, the latter of which refers to the intentional spreading of lies.

 

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