The European Commission is set to target Facebook parent Meta, Google, Twitter, Microsoft, and TikTok with new anti-disinformation measures, including deepfakes and fake accounts. Companies that fail to comply with the amended legislation may face substantial fines, according to reports.
Deepfakes are highly detailed forgeries made by computer processes that have sparked widespread concern, particularly when employed in a political setting. As part of its assault on false news, the European Commission is scheduled to issue a revised code of practice on misinformation on Thursday.
According to reports, the updated version of the EU’s anti-disinformation legislation would require IT and social media corporations to share key data with specific nations in order to combat disinformation. A revised “code of conduct on misinformation” would oblige technology companies to reveal how damaging content is deleted and prevented. It will also apparently provide more specific instances of hazardous material, such as deepfakes, which are video forgeries that make individuals appear to do or say things they did not do or say.
The voluntary code was initially announced in 2018, but will now be implemented as a co-regulation plan. Both regulators and signatories will apparently bear liability. According to the Financial Times, there will be 30 signatories, including major IT businesses and civil society organizations.
The Digital Services Act (DSA) of 2022, a historic piece of legislation aimed at reining in Big Tech, will enforce the code. Companies who violate the code may face fines of up to 6% of their global revenue. Given that Google parent Alphabet and Meta raked in $257 billion and $117.93 billion in 2021, respectively, 6% would be a sizable portion.
After signing up to the code, corporations have six months to put their plans into action. Signatories will also be required to take steps to combat deception in political advertising and to increase openness in political advertising.
New EU regulations come as governments throughout the world take a stance against Big Tech’s influence. The United States Department of Justice has launched an antitrust complaint against Google and is conducting an investigation. The American Innovation and Choice Act, which would limit the power of Amazon, Apple, and Google in digital and e-commerce markets, is set to be introduced in the United States Senate.
