© Reuters

A draft bill from the Australian government is warning tech and social media giants to remove misinformation from their platforms or be prepared to pay up big fines.

The new draft bill would see the country’s media regulator — the Australian Communications and Media Authority (ACMA) — armed with the power to make it obligatory for digital platforms such as Google (NASDAQ:) and Facebook (NASDAQ:) to maintain records concerning misinformation and disinformation on their platforms.

Draft of the Communications Legislation Amendment Bill. Source: Department of Infrastructure