Fines warning to social media giants

Facebook and other social media giants could be hit with fines “large enough to hit the profit of the company” for breaching online safety guidelines, the Taoiseach has warned.

Leo Varadkar confirmed massive fines based on companies’ advertising revenue could be imposed after what he described as “shocking and most unacceptable” cases uncovered in recent days. Those fines could reach into the hundreds of millions of euro.

Communications Minister Denis Naughten will meet Facebook chiefs for an “urgent meeting” in New York today regarding the Channel 4 Dispatches programme which involved undercover filming of Dublin-based moderators and raised serious concerns over what was permitted on the social media platform. It included racist memes and violent video clips and prompted the company to issue an apology for having fallen below its own standards.