Australia to Impose Heavy Fines on Tech Giants for Misinformation

Australia is set to fine internet platforms up to 5% of their global revenue if they fail to curb misinformation. The legislation mandates a regulator-approved code of conduct. The bill aims to protect election integrity, public health, and infrastructure. Critics argue it grants excessive power to regulators.

Australia has announced it will fine internet platforms up to 5% of their global revenue for failing to prevent the spread of misinformation online, joining a global effort to control tech giants but drawing the ire of free speech advocates.

The new legislation will require tech platforms to establish codes of conduct for managing dangerous falsehoods, to be approved by a regulator. If a platform fails to do so, the regulator will impose its own standard and fine non-compliant companies. The bill, to be introduced in parliament on Thursday, targets false content that jeopardizes election integrity, public health, safety, and key infrastructure.

This regulatory move precedes a federal election due within a year. The bill is part of Australia's broader crackdown on tech platforms, criticized for undermining national sovereignty. Communications Minister Michelle Rowland emphasized the threat misinformation poses to Australian democracy and society, stating inaction is not an option.

(With inputs from agencies.)