"Social media platforms are some of the richest and most powerful companies in the world, and we're serious about holding them to account," said Communications Minister Anika Wells. SYDNEY: Australia will double the financial penalty on platforms flouting its world-leading social media ban for under-16s to stem widespread evasion of the restrictions, the government said on Saturday (Jun 27). New legislation will lift the maximum fine to A$99 million (US$68 million) for systemic breaches of the