Elon Musk’s Twitter and other social media giants face the prospect of billions in fines after the Australian government released new laws targeting “misinformation and disinformation.”
Following a months-long process, Communications Minister Michelle Rowland released the draft legislation that will grant the country’s media regulatory body, the Australian Communications and Media Authority (ACMA), greater powers to stamp out harmful content online.
“Mis and disinformation sows division within the community, undermines trust, and can threaten public health and safety,” the Labor communications minister said in a statement on June 26.
“This consultation process gives industry and the public the opportunity to have their say on the proposed framework, which aims to strike the right balance between protection from harmful mis and disinformation online and freedom of speech.
The government has pledged that ACMA will not have the power to determine what is “true or false” on individual posts and will have no impact on “professional news content or authorised electoral content.”
New Standards and Penalties
The Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2023 introduces a two-tiered system to regulate mis- or disinformation online.
The first tier will see ACMA request social media companies develop a code of practice (industry codes), which will be registered and enforced by ACMA—similar to the telecommunications industry.
A breach of this code will attract significant penalties, including a $2.75 million fine or two percent of global turnover—whichever is greater.
If the code fails, the second tier of regulation will see ACMA itself create and enforce an industry standard (a stronger form of regulation) that will attract even higher penalties of $6.8 million or five percent of global turnover—millions for Twitter and billions for companies like Meta (Facebook).
These laws are meant to strengthen existing voluntary codes developed by the Digital IndustAustrialian ry Group.
The federal opposition has earmarked concerns around how ACMA will determine what is “mis- or disinformation.”
“This is a complex area of policy, and government overreach must be avoided,” said David Coleman, the shadow communications minister.
“The public will want to know exactly who decides whether a particular piece of content is ‘misinformation’ or ‘disinformation.’
Read Full Article on TheEpochTimes.com
