Meta removes 756,000 Aussie accounts under social media ban

• Major platforms removed over 2 million underage Australian accounts following a nationwide under-16 social media ban.
• Lawmakers are considering doubling maximum non-compliance penalties for tech platforms to $99 million.
• Companies urged regulators to allow evolving age verification systems time to take full effect.

Meta (NASDAQ:META) deactivated 756,000 underage accounts as platforms navigate Australia's nationwide under-16 social media ban.

Regulators reported that 80% of minors remained active on social networks months after the ban started in December.

"There can be differences in terms of people accessing versus having an account," said Meta Head of Public Policy Mia Garlick.

Australian lawmakers are reviewing proposed amendments to double maximum platform non-compliance penalties to $99 million.

Following the announcement, the Meta share price was down at $589.85 as the business anticipates further regulatory scrutiny.

The technology giant is defending its verification processes against eSafety Commissioner accusations of deliberately delaying ban implementation.

Executives maintain that their age detection systems are rapidly evolving to accurately identify users at the 16-year boundary.