Australia To Fine Tech Giants Up To 5% of Global Revenue Over Misinformation

Australia has announced it will fine internet platforms up to 5% of their global revenue if they fail to prevent the spread of misinformation online..

The government stated that tech platforms must establish codes of conduct to stop dangerous falsehoods from spreading.

These codes would require approval by a regulator. If a platform fails to comply, the regulator will set its own standard and fine the companies for non-compliance.

The legislation, set to be introduced in parliament on Thursday, focuses on false content that undermines election integrity, threatens public health, incites harm against groups or individuals, or risks disrupting critical infrastructure or emergency services.

This bill is part of Australia’s broader regulatory crackdown, as leaders have voiced concerns that foreign-based tech platforms are undermining the country's sovereignty.

An earlier version of the bill, criticised in 2023, was accused of giving too much power to the Australian Communications and Media Authority to define misinformation and disinformation.