The European Union threatens Google and Facebook with heavy fines

The European Union threatens Google and Facebook with heavy fines

You’ll encounter big tech companies, such as: My company Google and Facebook fines up to 6 percent of its sales volume if it does not do what it owes to handle illegal content, and it discloses more information about advertising business on its platforms under the European Union draft rules.

The European Union’s tough stance, which is set to be announced next week, comes amid growing regulatory scrutiny around the world of tech giants and their control over data and access to their platforms.

The head of digital affairs in the European Union (Thierry Breton) – who stressed that very large technology companies, such as: Google and Facebook, should bear more responsibility – will present the draft rules known as (the Digital Services Law) on December 15th.

The Commission document on (the Digital Services Law) specifies – Seen by Reuters The very large online platforms are those with more than 45 million users, equivalent to 10 percent of the population of the European Union.

The document said additional obligations imposed on very large platforms are necessary to address public policy concerns and systemic risks posed by their services.

Tech giants will have to do more to tackle illegal content, such as: hate speech, child sexual abuse material, misuse of their platforms that infringe on basic rights, and deliberate manipulation of platforms, such as: using chatbots to influence elections and public health.

Companies will be required to post details of their advertisers online, and to show the parameters their algorithms use to suggest and rank information. Independent auditors will monitor compliance, and the European Union will enforce the rules.

The draft rules could take a year or more to come into effect because it must take into account reactions from the European Union countries and the European Parliament, both of which are expected to face intense pressure.

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