Social media companies to face major fines under new, long-awaited online safety rules [Video]

SOCIAL MEDIA COMPANIES must adhere to long-awaited online safety rules, published today, or face fines worth up to €20 million or 10% of their annual turn over.

The Irish media regulator, Coimisiún na Meán, today finalised the Online Safety Code which creates a list of binding rules for video-sharing platforms with headquarters based in Ireland. It is the first of its kind in Ireland.

Strict rules prohibiting content that promotes acts of terror, cyberbulling, any method or type of self harm or incites violence or hate make up part of the code. Age verification tools must also be placed on pornographic content.

More robust parental controls will also be established in the rules for guardians of children below the age of 16. The companies must ensure that reporting mechanisms are present on their websites to allow members of the public to flag illegal content.

Ireland is one of the last …