Berliner Boersenzeitung - EU eyes deal to tame internet 'Wild West'

EUR -
AED 4.250279
AFN 74.068802
ALL 96.34764
AMD 436.497404
ANG 2.071711
AOA 1061.268908
ARS 1600.004406
AUD 1.671695
AWG 2.084635
AZN 1.972438
BAM 1.97433
BBD 2.329877
BDT 141.932067
BGN 1.978229
BHD 0.436895
BIF 3430.31661
BMD 1.157327
BND 1.493416
BOB 7.993016
BRL 6.011846
BSD 1.156761
BTN 110.075081
BWP 15.957768
BYN 3.439985
BYR 22683.605111
BZD 2.326434
CAD 1.608817
CDF 2644.491429
CHF 0.923229
CLF 0.027159
CLP 1072.390146
CNY 7.979419
CNH 7.966957
COP 4263.105822
CRC 537.850177
CUC 1.157327
CUP 30.66916
CVE 110.958736
CZK 24.552921
DJF 205.680104
DKK 7.472466
DOP 69.558064
DZD 153.841103
EGP 63.118638
ERN 17.359902
ETB 181.75834
FJD 2.612554
FKP 0.877298
GBP 0.873822
GEL 3.113057
GGP 0.877298
GHS 12.730622
GIP 0.877298
GMD 85.641899
GNF 10155.542917
GTQ 8.851108
GYD 242.083054
HKD 9.071826
HNL 30.788906
HRK 7.535815
HTG 151.824913
HUF 384.272974
IDR 19615.878985
ILS 3.65316
IMP 0.877298
INR 108.192174
IQD 1516.098097
IRR 1522897.391286
ISK 143.415556
JEP 0.877298
JMD 183.00757
JOD 0.820575
JPY 183.524251
KES 150.453052
KGS 101.208562
KHR 4640.880131
KMF 495.891431
KPW 1041.564799
KRW 1747.019515
KWD 0.358238
KYD 0.963947
KZT 551.132512
LAK 25403.323343
LBP 103591.285265
LKR 364.9265
LRD 212.57197
LSL 19.754877
LTL 3.417285
LVL 0.700056
LYD 7.412687
MAD 10.812329
MDL 20.486269
MGA 4835.31138
MKD 61.658148
MMK 2429.805381
MNT 4132.824234
MOP 9.340602
MRU 46.419748
MUR 54.513869
MVR 17.903632
MWK 2010.276675
MXN 20.708223
MYR 4.658262
MZN 74.010695
NAD 19.755375
NGN 1603.20969
NIO 42.50825
NOK 11.21143
NPR 176.119928
NZD 2.010769
OMR 0.444985
PAB 1.156756
PEN 4.046039
PGK 5.080212
PHP 70.11548
PKR 323.122061
PLN 4.288226
PYG 7493.32668
QAR 4.21734
RON 5.098716
RSD 117.464074
RUB 94.08702
RWF 1689.697115
SAR 4.343413
SBD 9.307265
SCR 16.268511
SDG 695.553432
SEK 10.941565
SGD 1.486679
SHP 0.868295
SLE 28.411882
SLL 24268.57668
SOS 661.409847
SRD 43.253978
STD 23954.327948
STN 25.142925
SVC 10.122042
SYP 127.948327
SZL 19.755814
THB 37.659685
TJS 11.087559
TMT 4.062217
TND 3.391403
TOP 2.786565
TRY 51.455326
TTD 7.858791
TWD 36.979944
TZS 2995.521698
UAH 50.820078
UGX 4354.890513
USD 1.157327
UYU 46.930454
UZS 14114.182851
VES 547.737136
VND 30483.987684
VUV 139.276576
WST 3.204954
XAF 662.171641
XAG 0.015452
XAU 0.000246
XCD 3.127733
XCG 2.084766
XDR 0.822804
XOF 660.25318
XPF 119.331742
YER 276.195876
ZAR 19.537285
ZMK 10417.327975
ZMW 22.111522
ZWL 372.658755
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    -0.4028

    21.9

    -1.84%

  • BCC

    0.9000

    75.85

    +1.19%

  • CMSD

    -0.4000

    22.1

    -1.81%

  • BCE

    0.0100

    25.24

    +0.04%

  • NGG

    0.9100

    84.6

    +1.08%

  • GSK

    0.9600

    55.19

    +1.74%

  • RIO

    4.4700

    93.29

    +4.79%

  • JRI

    0.3800

    12.3

    +3.09%

  • BTI

    0.2100

    58.47

    +0.36%

  • RELX

    0.4000

    33.15

    +1.21%

  • RYCEF

    0.7600

    15.05

    +5.05%

  • VOD

    0.3200

    15.02

    +2.13%

  • AZN

    3.3400

    197.22

    +1.69%

  • BP

    -0.3500

    47

    -0.74%

EU eyes deal to tame internet 'Wild West'
EU eyes deal to tame internet 'Wild West' / Photo: JUSTIN TALLIS - AFP/File

EU eyes deal to tame internet 'Wild West'

The European Union on Friday homed in on new regulation to require Big Tech to remove harmful online content, the bloc's latest move to rein in the world's online giants.

Text size:

The Digital Services Act (DSA) -- the second part of a massive project to regulate tech companies -- aims to ensure tougher consequences for platforms and websites that violate a long list of banned content ranging from hate speech to disinformation and paedophilia images.

EU officials and parliament members started talks in Brussels to hammer out the deal, hoping to reach an agreement later in the day on legislation in the works since 2020.

The text is the companion to the Digital Markets Act (DMA), which targeted anti-competitive practices among tech behemoths like Google and Facebook and was concluded in late March.

The legislation has faced lobbying from the tech companies and intense debate over the extent of freedom of speech.

"What's forbidden offline must be forbidden online," tweeted EU internal markets commissioner Thierry Breton, who has previously described the internet as the "Wild West".

Tech giants have been repeatedly called out for failing to police their platforms -- a New Zealand terrorist attack that was livestreamed on Facebook in 2019 caused global outrage, and the chaotic insurrection in the US last year was promoted online.

The dark side of the internet also includes e-commerce platforms filled with counterfeit or defective products.

- Clinton praise -

The proposed regulation would require platforms to swiftly remove illegal content as soon as they are aware of its existence. Social networks would have to suspend users who frequently breach the law.

The DSA would force e-commerce sites to verify the identity of suppliers before proposing their products.

While much of the DSA's stipulations cover all companies, it lays out special obligations for "very large platforms", defined as those with more than 45 million active users in the European Union.

The list of companies has not yet been released but will include giants such as Google, Apple, Facebook, Amazon, Microsoft, as well as Twitter and probably the likes of TikTok, Zalando and Booking.com.

These players will be obliged to assess the risks associated with the use of their services and remove illegal content.

They will also be required to be more transparent about their data and algorithms.

The European Commission will oversee yearly audits and be able to impose fines of up to six percent of their annual sales for repeated infringements.

Among the practices expected to be outlawed is the use of data on religion or political views for targeted advertising.

Hillary Clinton, the former US secretary of state and presidential candidate, applauded the EU for taking action.

"For too long, tech platforms have amplified disinformation and extremism with no accountability. The EU is poised to do something about it," Clinton tweeted on Thursday.

"I urge our transatlantic allies to push the Digital Services Act across the finish line and bolster global democracy before it's too late."

Former Facebook employee Frances Haugen caused a huge stir last year when she accused her former bosses of prioritising profits over the welfare of its users.

She hailed in November the "enormous potential" of the European regulation project, which could become a "reference" for other countries, including the United States.

However, the European Consumer Organisation (BEUC) fears the text does not go far enough.

It wants a ban on all advertising based on the surveillance of internet users and random checks on online vendors' products.

(L.Kaufmann--BBZ)