The Australian Competition and Consumer Commission (ACCC) has released its 23 recommendations on how the country should regulate big tech companies such as Google and Facebook. Experts believe the regulations could force the data-collecting firms to commit towards transparency.
Both Google and Facebook are faced with multiple data and privacy-related issues. While the European Union (EU) and the U.S. have been hot on the heels of these firms, an expert believes Australia's work on pursuing big tech goes the extra mile, Bloomberg reported.
According to the outlet, Senior Lecturer at the University of New South Wales Business School in Sydney, Rob Nicholls, said the ACCC's progress is "the leading edge," adding that the agency "has proved itself to be the most effective enforcement regulator in Australia."
In its report released on Friday, the ACCC noted that consumers have the slightest ideas regarding Google and Facebook's capacities in collecting and utilizing the data they provide.
Industry analysts believe the ACCC's recommendations of tightening Australia's grip on Facebook and Google's data-collection policies could be what the world needs in terms of forcing the U.S. tech giants to be more transparent about their use and storage of user information.
Google and Facebook have both expressed commitment towards working with the ACCC as the Aussie watchdog continues to dig into the firms' privacy policies. The companies also indicated interest in working with the government to achieve shared goals.
Among the aspects of business that the ACCC wants big tech firms to have less control of include election reports, distribution of news, data use and storing, as well as advertising. Hefty fines are recommended in the report if involved firms violate any competition and consumer policies laid out by the Australian government.
As part of the country's bid to put chains on Google and Facebook's control over the internet, the government announced that a 12-week consultation that will be performed publicly will be carried out.
"The world has never before seen so much commercially sensitive and personal data collected and aggregated in just two companies," Treasurer Josh Frydenberg, who largely supports the crackdown, said during a media briefing.
Australian tech and data regulators aren't the only groups with hot eyes for Google and Facebook. Even the White House has united for the cause of determining whether these firms are violating antitrust laws.
In Silicon Valley, there's more than Google and Facebook. Other American tech behemoths that could be at risk of similar probes and investigations are smartphone leader Apple and e-commerce giant Amazon.
The Australian government is expected to unveil its own regulatory recommendations against big tech before 2019 comes to a close.
