Australian authorities are planning to take new steps against online misinformation by imposing heavy fines.
According to Reuters, Australia announced that it would fine the social media giants up to 5% of their global revenue if they failed to prevent the spread of misinformation on their platforms.
The objective of the bill is to target misinformation about the elections, public health, security, and emergency services.
The Australian Communications Minister Michelle Rowland said in a statement, “Misinformation and disinformation pose a serious threat to the safety and wellbeing of Australians, as well as to our democracy, society, and economy. Doing nothing and allowing this problem to fester is not an option."
This bill came after the leaders of the country complained that most of the social media companies are based in foreign countries and are ignoring Australian laws and sovereignty ahead of the election year.
The Australia Communications and Media Authority welcomed the new bill, saying, “Legislation to provide it with a formal regulatory role to combat misinformation and disinformation on digital platforms."
Meanwhile, the opposition home affairs spokesman James Paterson expressed concerns and asserted, “Australians' legitimately-held political beliefs should not be censored by either the government or by foreign social media platforms."
The legislation will be presented in the parliament on Thursday, September 12.
