Australia’s media regulator will be given the authority to crack down and fine tech companies for misinformation and disinformation on their platforms, it has been revealed. Digital platforms like Meta and X may be subject to civil penalties of up to five percent of global turnover for breaches. The legislation would give the Australian Communications and Media Authority new powers, where it would be authorized to demand that social platforms keep their records and hand them over. There will be significant penalties for breaking the law, with companies facing a fine of five percent of their global revenue for failing to prevent the spread of misinformation online, as well as two percent for breaching codes. Communications Minister Michelle Rowland stated around 75 percent of Australians are concerned about the harmful impacts of misinformation and disinformation.