Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Finance
    3. >Britain sets first codes of practice for tech firms in online safety regime
    Finance

    Britain Sets First Codes of Practice for Tech Firms in Online Safety Regime

    Published by Global Banking & Finance Review®

    Posted on December 16, 2024

    2 min read

    Last updated: January 27, 2026

    Add as preferred source on Google
    An image showcasing the latest auto and tech innovations presented at CES 2025, highlighting the looming tariff discussions that are affecting industry leaders and consumer costs.
    Auto and tech innovations at CES amid looming tariff discussions - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Quick Summary

    The UK has implemented an online safety regime requiring tech firms to address illegal content, with a focus on child protection and platform safety.

    UK Introduces First Online Safety Codes for Tech Firms

    LONDON (Reuters) - Britain's online safety regime came into force on Monday, requiring social media companies like Meta's Facebook and ByteDance's TikTok to take action to tackle criminal activity on their platforms and make them safer by design.

    Media regulator Ofcom said it had published its first codes of practice on tackling illegal harms such as child sexual abuse and assisting or encouraging suicide.

    Sites and apps have until March 16, 2025, to assess the risks illegal content poses to children and adults on their platforms, Ofcom said.

    After the deadline, they will have to start implementing measures to mitigate those risks, such as better moderation, easier reporting and built-in safety tests, Ofcom said.

    Ofcom Chief Executive Melanie Dawes said the safety spotlight was now firmly on tech companies.

    "We'll be watching the industry closely to ensure firms match up to the strict safety standards set for them under our first codes and guidance, with further requirements to follow swiftly in the first half of next year," she said.

    The Online Safety Act, which became law last year, sets tougher standards for platforms such as Facebook, YouTube and TikTok, with an emphasis on child protection and the removal of illegal content.

    Under the new code, reporting and complaint functions will have to be easier to find and use. High-risk providers will be required to use automated tools called hash-matching and URL detection to detect child sexual abuse material, Ofcom said.

    The regulator will be able to issue fines of up to 18 million pounds ($22.3 million) or 10% of a company's annual global turnover if they fail to comply.

    Britain's Technology Secretary Peter Kyle said the new codes were a "material step change in online safety".

    "If platforms fail to step up the regulator has my backing to use its full powers, including issuing fines and asking the courts to block access to sites," he said.

    (Reporting by Paul Sandle; Editing by Emelia Sithole-Matarise)

    Key Takeaways

    • •Britain's online safety regime is now in effect.
    • •Tech firms must tackle illegal content by March 2025.
    • •Ofcom published codes for handling illegal harms.
    • •Non-compliance could result in hefty fines.
    • •Focus on child protection and safer platforms.

    Frequently Asked Questions about Britain sets first codes of practice for tech firms in online safety regime

    1What is the main topic?

    The main topic is the UK's new online safety regime for tech firms to tackle illegal content and enhance platform safety.

    2What are the consequences of non-compliance?

    Non-compliance could result in fines up to 18 million pounds or 10% of annual global turnover.

    3What is the focus of the new safety codes?

    The focus is on child protection, illegal content removal, and making platforms safer by design.

    More from Finance

    Explore more articles in the Finance category

    Image for UK vehicle output drops sharply in 'extremely worrying' February decline, SMMT says
    UK Vehicle Output Drops Sharply in 'extremely Worrying' February Decline, Smmt Says
    Image for Ousted Ben & Jerry's board chair sues Unilever, alleging defamation
    Ousted Ben & Jerry's Board Chair Sues Unilever, Alleging Defamation
    Image for UK GfK consumer sentiment drops to 11-month low on Iran war worries
    UK GfK Consumer Sentiment Drops to 11-month Low on Iran War Worries
    Image for KKCG Maritime sweetens offer for raising stake in Italian yacht maker Ferretti
    Kkcg Maritime Sweetens Offer for Raising Stake in Italian Yacht Maker Ferretti
    Image for Unilever sued for defamation by ousted chair of Ben & Jerry's board
    Unilever Sued for Defamation by Ousted Chair of Ben & Jerry's Board
    Image for Europeans to press US over Russian support for Iran
    Europeans to Press US Over Russian Support for Iran
    Image for Trading Day: Sell everything (except oil)
    Trading Day: Sell Everything (except Oil)
    Image for Exclusive-US deploys uncrewed drone boats in conflict with Iran
    Exclusive-US Deploys Uncrewed Drone Boats in Conflict With Iran
    Image for Rugby-English Prem to introduce "salary floor"
    Rugby-English Prem to Introduce "salary Floor"
    Image for EU reaches deal to fine online platforms importing products deemed unsafe
    EU Reaches Deal to Fine Online Platforms Importing Products Deemed Unsafe
    Image for Ukraine using strikes to pressure Russia after oil sanctions eased, Zelenskiy says
    Ukraine Using Strikes to Pressure Russia After Oil Sanctions Eased, Zelenskiy Says
    Image for BoE's Taylor says rates should be held until war impact on economy is clearer
    BoE's Taylor Says Rates Should Be Held Until War Impact on Economy Is Clearer
    View All Finance Posts
    Previous Finance PostDecline in Euro Zone Business Activity Eases in December, PMI Shows
    Next Finance PostUK Approves Daniel Kretinsky’s $6.7 Billion Bid for Royal Mail Parent, Ft Reports