Australia Proposes Fines for Social Media Giants Over Misinformation

Australia has announced plans to impose fines of up to 5% of global revenue on social media platforms that fail to curb misinformation, as part of a broader regulatory effort, Arab News reported yesterday.

The legislation, set to be introduced in parliament, aims to tackle false content that threatens election integrity, public health, and safety. Communications Minister Michelle Rowland emphasized the need for action, stating that misinformation poses a serious threat to democracy and society.

The bill mandates that tech companies establish codes of conduct approved by a regulator to combat dangerous falsehoods. If they fail to comply, the regulator will set standards and impose fines. The revised bill addresses concerns from 2023 by clarifying that the media regulator cannot force the removal of specific content or user accounts.

While public support for addressing misinformation is strong, critics warn against censorship of legitimate political beliefs. Major platforms like Meta and X have not yet commented on the proposed changes, which come ahead of a federal election within a year.