The Australian government released a report Friday recommending tighter oversight over multinational digital platforms including Google and Facebook, to ensure fairness for other media businesses and give people more control over how their data is used.
The Australian Competition and Consumer Commission, the nation's fair trade watchdog, spent 18 months investigating the impact of digital search engines, social media platforms, and digital content aggregators on competition in the media and advertising services markets.
"Make no mistake, these companies are among the most powerful and valuable in the world and they need to be held to account and their activities need to be more transparent," Frydenberg told reporters."The final report examines important topics in relation to Australia's changing media and advertising industry and we have engaged closely with the ACCC throughout the process," a Google statement said.
"Whether it be print, radio or television, content generated by journalists and owned by media companies is being displayed on social media and search engines, often without a negotiated agreement covering how data and content is monetized and shared," Frydenberg said. Australia's moves follow the U.S. Federal Trade Commission's decision this week to fine Facebook a record $5 billion for privacy violations.
Regulators in Australia, Europe and the U.S. took notice. Facebook now faces the prospect of not only billions of dollars in additional fines, but also new restrictions around the world. New Australian laws also require Facebook, Google and other global technology companies to help police by unscrambling encrypted messages sent by criminals.
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