SYDNEY, Sept 13 V7N - Australia has announced a new law that will fine internet platforms up to 5% of their global revenue if they fail to stop the spread of misinformation online. The proposed legislation requires tech platforms to establish codes of conduct for curbing dangerous falsehoods, which will be regulated by the Australian Communications and Media Authority (ACMA). If a platform does not comply, the regulator will set its own standards and impose fines for violations.

The bill aims to address false content that undermines election integrity, public health, or key infrastructure and emergency services. It is part of a broader effort to regulate foreign-domiciled tech platforms and comes ahead of an Australian federal election due within the next year.

Critics of the initial 2023 draft raised concerns about giving ACMA too much power over what constitutes misinformation. The revised bill addresses these concerns, stating that ACMA will not have the authority to force the removal of individual content or accounts, and protections are in place for professional news, artistic, and religious content.

Communications Minister Michelle Rowland emphasized the importance of curbing misinformation to protect Australia's democracy, society, and economy, while free speech advocates, like opposition home affairs spokesman James Paterson, warned about the risks of censorship of political beliefs. Tech companies like Meta have expressed caution but have yet to fully comment on the updated bill.

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