Online Safety Bill introduces hefty fines for social media companies
Fines may be levied at the higher of £18m or 10 per cent of annual global turnover
A draft Online Safety Bill proposes to give Ofcom the right to levy hefty fines (the higher of £18m or 10 per cent of annual global turnover) on social media providers that fail in a new duty of care to remove and limit the spread of illegal and harmful content. The bill seeks to protect children and tackle racism and fraud, while protecting freedom of expression. The bill includes a deferred power to introduce a criminal offence for senior managers if tech firms don’t improve.
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