• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Australia PM plays down privacy fears of social media ban for children

by November 25, 2024
written by November 25, 2024

By Alasdair Pal

SYDNEY (Reuters) – Australia Prime Minister Anthony Albanese said on Monday social media firms would be required to destroy personal data used to verify ages of users, as part of what the government says is a world-leading ban on under-16s using the services.

Australia plans to trial an age-verification system that may include biometrics or government identification to enforce a social media age cut-off, some of the toughest controls imposed by any country to date.

“There will be very strong and strict privacy requirements to protect people’s personal information, including an obligation to destroy information provided once age has been verified,” Albanese told parliament on Monday.

The laws would impact Meta Platforms (NASDAQ:META)’ Instagram and Facebook, Bytedance’s TikTok and Elon Musk’s X and Snapchat.

They have been criticised by figures including Musk, who said on Friday the legislation was a backdoor attempt to control access to the internet for all Australians.

The proposals are the highest age limit set by any country, and would have no exemption for parental consent and no exemption for pre-existing accounts. Platforms face fines of up to $32 million for failing to comply with the legislation.

The government has said it aims to pass the bill into law by the end of the parliamentary year on Thursday, fast-tracking it through the upper and lower houses of parliament.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Analysis-Chinese startups suffer as IPO freeze prompts investors to exercise redemption rights
next post
Adani bonds slide to year low as investors weigh bribery allegations

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump Media to merge with nuclear fusion company

      December 20, 2025
    • Dell family donation to offer 25 million kids $250 to open ‘Trump accounts’

      December 3, 2025
    • Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

      December 3, 2025
    • Shopify says a daylong Cyber Monday outage has been resolved

      December 3, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (678)
    • Stock (6,426)

    Latest News

    • Trump Media to merge with nuclear fusion company
    • Dell family donation to offer 25 million kids $250 to open ‘Trump accounts’

    Popular News

    • Rotation trade dying down despite volatility, says Barclays
    • Britain to pay $2.9 billion into G7 loan for Ukraine to buy weapons

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy