EU may fine TikTok

TikTok owner ByteDance Ltd. faces the threat of hefty fines as the European Union prepares a probe under its strict new content moderation rules over concerns of risks to minors, Report informs referring to Bloomberg.

The European Commission will open an investigation into TikTok under the bloc’s new Digital Services Act in the coming weeks, people familiar with the matter said. The probe stems from concerns that changes the company made to comply with the new regulations aren’t enough to protect underage users, according to the people, who asked not to be identified because the deliberations are private.

The DSA gives regulators unprecedented powers to take action against major tech companies for how they handle content on their platforms. Companies face fines of as much as 6% of annual sales, or even risk being banned from the EU if they repeatedly break the rules.