The Australian governement announced it would establish the world’s first dedicated office to police Facebook and Google as part of reforms designed to rein in the US technology giants, potentially setting a precedent for global lawmakers, reported Reuters.
The move tightens the regulatory screws on the online platforms, which have governments from the United States to Europe scrambling to address concerns ranging from antitrust issues to the spread of “fake news” and hate speech.
Australian Treasurer Josh Frydenberg said the US$5 billion fine slapped on Facebook in the United States this month for privacy breaches showed regulators were now taking such issues extremely seriously.
“These companies are among the most powerful and valuable in the world,” Frydenberg told reporters in Sydney after the release of a much-anticipated report on future regulation of the dominant digital platforms.
Full Content: Reuters
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