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The Australian government has introduced legislation to ban social media access for children under 16, citing mental health concerns. Platforms like TikTok and Facebook could face fines of up to AU$50 million for non-compliance. The law aims to protect young users from harmful content and is expected to take effect in a year.
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As fraud cases surge, particularly in the UK, new regulations mandate banks to reimburse victims of authorised push payment (APP) fraud up to £85,000 within five days. Despite a slight decrease in total losses, the number of reported fraud cases has increased significantly, prompting calls for enhanced consumer protection measures.
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Recent reports indicate a significant rise in scams globally, with Citizens Advice revealing that nine million people in the UK have fallen victim. Authorities are urging vigilance as scammers employ increasingly sophisticated tactics, including impersonation and urgency, to exploit vulnerable populations. Awareness campaigns are underway to combat these deceptive practices.
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As AI technology evolves, major companies like Google, Adobe, and Meta are facing scrutiny over their data usage practices. Recent developments indicate potential shifts in regulatory oversight, particularly with the Republican victory and Trump's plans to dismantle Biden's AI Executive Order, raising concerns about the future of AI governance.
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Recent developments in fraud prevention highlight the use of AI technologies and community efforts to combat scams. In the UK, an AI character named Daisy is engaging scammers, while Hong Kong police have intensified operations against various fraud syndicates. These initiatives aim to protect vulnerable populations and reduce financial losses.
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The European Commission has fined Meta €798 million for abusing its market dominance by linking Facebook Marketplace to its social network, creating unfair competition for rival classified ad services. Meta plans to appeal the decision, claiming it ignores market realities.