The Financial Times has reported on the European Commission’s plans for a voluntary system of self-regulation for social media companies.
The legislation has been drafted to curtail the spread of false information, which ‘can be used as leverage to influence and manipulate societal debates in Europe as well as policymaking.’ The commission will set out its code of practice to empower tech giants to crack down on not only false information but also close fake accounts.
Currently the approach will be voluntary, however should it fail to yield results then the commission will draft further legislation.
“Inaction is not an option,” says the document. “The gravity of the threat . . . has become increasingly clear as exemplified by recent revelations about personal data mined from social media used in an electoral context.”