AUSTRALIA DOUBLES SOCIAL MEDIA BAN PENALTIES TO $99M

The Australian federal government announced the penalty increase as it argues social media platforms are failing to comply with restrictions designed to keep children under 16 off these services. Albanese said too many young Australians remain on platforms despite the ban, though he expressed being "heartened" by the legislation's reception globally. The doubling of penalties targets major tech companies failing to implement adequate age verification and compliance measures. The crackdown follows Australia's introduction of strict social media regulations, positioning the nation as a leader in child protection policy. However, implementation has revealed gaps in how platforms enforce age restrictions. The penalty increase signals the government's commitment to forcing compliance through financial consequences. Tech companies now face substantially higher financial risk for breaches, pressuring them to invest more heavily in age verification systems and content moderation. The move reflects growing international attention to social media's impact on minors, with other countries watching Australia's regulatory approach closely as they consider similar legislation.