Meta, Google and Twitter vow to fight fake news or risk penalties

The signatories agree to do more to tackle deep fakes, fake accounts and political advertising

Big tech, tech firms, Google, apple, facebook, amazon, internet giants, twitter, social media
Silicon Valley firms have been facing close scrutiny from EU antitrust watchdogs in recent years.
Agencies Brussels
2 min read Last Updated : Jun 17 2022 | 2:34 AM IST
Meta, Alphabet-unit Google, Twitter and Microsoft agreed on Thursday to take a tougher line against disinformation under an updated EU code of practice that could hit them with hefty fines if they fail to do so. More than 30 signatories, including advertising bodies have committed to the updated Code of Practice on disinformation, the European Commission said.

The signatories agree to do more to tackle deep fakes, fake accounts and political advertising, while non-compliance can lead to fines as much as 6 per cent of a company’s global turnover, the EU executive said, confirming a Reuters report last week.

The companies, which include TikTok and Amazon’s live streaming e-sports platform Twitch, have six months to comply with their pledges and will have to present a progress report at the beginning of 2023.

“The new code is a testimony that Europe has learned its lessons and that we are not naive any longer,” Commission Vice-President Vera Jourova told a news conference. She said Russia’s invasion of Ukraine, the Covid-19 pandemic and Britain’s withdrawal from the European Union accelerated the EU’s crackdown on fake news.

Sanctions may include banning companies from Europe, EU industry chief Thierry Breton said. “If there is consistent flouting of the rules, we can also think about stopping their access to our space of information,” he told the news conference.

Critics such as the Association of Commercial Television and Video on Demand Services in Europe (ACT) said there were grave shortcomings in the revised Code.

“The Review does not offer concrete commitments to limit ‘impermissible manipulative behavior’. Commitments go no further than a blanket statement to follow the law, which is obvious and does not require a Code,” it said. 

Silicon Valley firms have been facing close scrutiny from EU antitrust watchdogs in recent years. Apple was fined a record 1.1 billion euros ($1.3 billion) in 2020 over anti-competitive agreements with two distributors by the French regulator.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Googlebig techTwitterFake news

Next Story