UK plans big fines for online companies over harmful content

 Social media and or internet companies face big fines in Britain if y don't limit amount of harmful material such as child sexual abuse or terrorist content on ir platforms, officials said Tuesday.

Under legislative proposals that U.K. government plans to launch next year, tech companies that let people post ir own material or talk to ors online could be fined up to 18 million pounds or 10% of ir annual revenue, whichever is higher, for t complying with rules.

proposals, contained in U.K. government's Online Safety Bill, will have extra provisions for biggest social media companies with “high-risk features," expected to include Facebook, TikTok, Instagram and Twitter.

se companies will face special requirements to assess wher re's a “reasonably foreseeable risk” that content or activity that y host will cause “significant physical or psychological harm to ults" and clarify what is allowed.

European Union is also expected later Tuesday to unveil its own long-awaited sweeping overhaul of digital regulations. EU proposals will include measures aimed at reining in tech giants. y will also update bloc's 20-year-old rules on e-commerce by making online platforms take more responsibility for ir goods and services, such as weeding out shy trers and taking down illegal content such as hate speech.