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EU joins UK in rolling out sweeping new fines for tech giants : CityAM

EU joins UK in rolling out sweeping new fines for tech giants US tech giants could face fines of up to 10 per cent of their revenue under new draft EU rules set to be unveiled today. The regulations, the most serious attempt at reining it companies such as Amazon, Google, Facebook, and Apple yet made by the bloc, come amid intense worldwide scrutiny on the role of such companies. In recent years countries around the world have grown anxious about the influence that such companies wield, as well as the threat they present to competition. European Competition Commissioner Margrethe Vestager and EU Internal Market Commissioner Thierry Breton will set out the new rules later today.

Twitter: Facebook, Twitter face British fines if fail on harmful content

Synopsis Tech platforms will also need to do more to protect children from being exposed to grooming, bullying and pornography, the government said, to ensure the safety of children online. AFP British media regulator Ofcom will be given the power to fine companies up to 18 million pounds ($24 million) or 10% of global turnover, whichever is higher, for breaking the rules. Facebook, Twitter and TikTok face fines of up to 10% of turnover if they fail to remove and limit the spread of illegal content under laws proposed by Britain on Tuesday. Tech platforms will also need to do more to protect children from being exposed to grooming, bullying and pornography, the government said, to ensure the safety of children online.

Online Harms Bill will spark new age of accountability for social media | East London and West Essex Guardian Series

Online platforms that fail to protect users or remove harmful content face multimillion-pound fines and being blocked in the UK under new laws, the Government has announced. However, proposals for criminal liability for senior executives at non-compliant firms appear to have been scaled back, with the Government aiming to bring those powers into force through secondary legislation. Ahead of publishing a full response to the Online Harms White Paper, Home Secretary Priti Patel and Digital Secretary Oliver Dowden said the proposed laws would create a “new age of accountability” for social media platforms. Priti Patel (Dominic Lipinski/PA) Under the new rules, which the Government will bring forward in an Online Safety Bill next year, Ofcom – in its new confirmed role as regulator – will have the power to fine companies up to £18 million or 10% of global turnover, whichever is higher, for failing to abide by a duty of care to their users – particularly children and the vu

Facebook, Twitter, TikTok to Face British Fines Upon Failing to Remove Harmful Content

Facebook, Twitter, TikTok to Face Fines in UK Upon Failing to Remove Harmful Content Tech platforms will also need to do more to protect children from being exposed to grooming, bullying, and pornography. By Press Trust of India | Updated: 15 December 2020 17:20 IST Platforms will be required to have clear policies for content that, while not illegal, could cause harm Highlights Britain s new rules will be introduced in legislation next year Facebook and Google said they would work with the government The UK government has set out new powers that could see tech companies facing fines of up to GBP 18 million (roughly Rs. 180 crores) or 10 per cent of their annual global turnover, whichever is higher, if they fail to act on harmful online content.

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