Stricter Stance on Disinformation Agreed Upon

Meta, Google, Twitter, and Microsoft have agreed to adopt a stricter stance against disinformation in accordance with new EU regulations, which could result in substantial fines if companies fail to comply, Reuters has reported.

The European Commission announced that more than 30 companies, including advertising agencies, have committed to adhering to the updated code of conduct on disinformation.

The companies have agreed to do more to combat fake accounts, bots, and political advertising, with non-compliance potentially leading to fines amounting to 6% of the company's global revenue, said an EU representative.

Companies have six months to fulfill their commitments and are required to report on their progress by the beginning of 2023.

“The new code of conduct demonstrates that Europe has learned its lessons and we are no longer naive,” said Vera Jourova, Vice President of the European Commission, at a press conference.

According to her, the war in Ukraine, the COVID-19 pandemic, and the UK's exit from the European Union have accelerated the EU's efforts against misinformation.

“If the rules are consistently violated, we may consider restricting access to our information space for them,” stated European Commissioner Thierry Breton.