By Juliet Umeh
Amid growing regulatory scrutiny worldwide of technology giants, their control of data and access to their platforms, the new European Union, EU, content rules is set to fine them six percent on their turnover.
According to report, big tech firms such as Google and Facebook will henceforth face fines of up to six percent of turnover if they do not do more to tackle illegal content and reveal more about advertising on their platforms under draft European Union rules.
The EU’s tough line, which is due to be announced next week, according to report, comes amid growing regulatory scrutiny worldwide of tech giants.
The Commission document on the DSA defines very large online platforms as those with more than 45 million users, equivalent to 10 percent of the EU population.
The document stated that, “additional obligations imposed on very large platforms are necessary to address public policy concerns and the systemic risks posed by their services.
“The tech giants will have to do more to tackle illegal content such as hate speech and child sexual abuse material, misuse of their platforms that impinges on fundamental rights and intentional manipulation of platforms, such as using bots to influence elections and public health.
“The companies will be required to publish details of their online advertisers and show the parameters used by their algorithms to suggest and rank information.
“Independent auditors will monitor compliance, with EU countries enforcing the rules.”
However, Facebook according to report declined to comment ahead of publication of the EU document while Google said it had nothing to add at this stage.
The draft rules could take a year or more to come into force as they have to take into account feedback from EU countries and the European Parliament, both of whom are expected to face intense lobbying.