Facebook, Twitter could pay $53 million for hate speech and fake news in Germany

‘German authorities have circulated further steps aimed at fighting hate speech and so-called fake news posts on social media sites such as Facebook and Twitter proposing fines of up to 50 million euros ($53 million).
German Justice Minister Heiko Maas announced plans to introduce a new law that would oblige social networks to publish quarterly accountability reports, which would include information on how effectively cases of hate speech and fake news reported by users on social networks are being considered, the German Justice Ministry reported on Tuesday.
Apart from that, social media companies would have to take down offensive posts within 24 hours after a complaint is submitted. As of today, it takes at least a week to delete these kind of posts.’
Read more: Facebook, Twitter could pay $53 million for hate speech and fake news in Germany