Some Early Fallout As EU Officials Demand Changes To Social Titans' Codes Of Conduct
March 20, 2017 - 2:21pm
A few months ago, they were given warning. Now, social media sites have been given an ultimatum — change their terms of service, or pay a fine.
The European Commission had pressured Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Facebook Inc (NASDAQ: FB) and Twitter Inc (NASDAQ: TWTR) in a December letter to counter fraud and scams on their sites, and representatives from each party discussed possible resolutions March 16.
Authorities are now preparing to “take action to make sure social media companies comply with EU consumer rules,” a Commission official told Reuters Friday.
The source said the companies have one month to change their contracts for European users or face disciplinary action. Germany, for example, will fine up to $53 million for failure to quickly remove slander and threats.
No punitive measures have yet been effected, but, considering the mere threat, at least ...Full story available on Benzinga.com
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