Social media giants to pay fines worth $32 million under Australia ban

Global social media firms could face fines of as much as A$50 million ($32.5 million) if they fail to enforce the Australian government’s new social media ban on children under the age of 16, according to legislation set to be introduced on Thursday.

Under the bill, big tech will be required to take reasonable steps to prevent children from having an account, with fines to be levied on firms that systematically breach the legislation.