Editorial: Tech giants must do better

Social media giants must take more responsibility to protect vulnerable Australians falling victim to online scams, writes the editor.

Australians are being targeted by online scammers daily.

Social media giants must take more responsibility to protect vulnerable Australians falling victim to online scams.

Romance scams are not new – but with the introduction of social media and AI, it has never been easier to swindle vulnerable, unsuspecting victims out of their money.

A case is point is that of Caboolture pensioner Tracey Skeates, who burned through an inheritance of around $40,000 keeping up with the demand of his “girlfriend’’ Charlotte.

His nightmare started when he was contacted by Charlotte via Instagram declaring she had recently broken up with her boyfriend and was looking for someone to talk to.

It was that simple.

Mr Skeates is one of hundreds of Queenslanders being fleeced of millions of dollars every year through social media romance scams. The 63-year-old is now facing life on the streets with his savings gone.

It is easy to be judgmental in these situations and proclaim we would never fall for such a scam.

Tracey Skeates from Caboolture has been caught up in an online dating scam costing him about $40,000. Picture: David Clark

But millions of people do and the tech giants are complicit in letting it happen. It is imperative they use their technology and all powerful algorithms to identify these heartless criminals preying on vulnerable people who are using their platforms for personal connection.

Whether they like it or not they have a social responsibility to keep people safe like every other business that operates in this country.

But as we’ve seen with their blatant disregard for the new social media laws to protect under 16s passed in the last week of parliament, they don’t believe the onus is on them.

Of course, people have to exercise common sense and take responsibility for their own actions when navigating the minefield that is social media.

But these billion-dollar social media empires should be forced to sink some of their profits into protecting their users.

The Albanese Government is proving it has an appetite to crackdown on these companies.

Following the age ban legislation the Prime Minister has also announced plans to make tech giants pay for Australian news content under a news media bargaining code.

The government has also proposed new anti-scam legislation that would mean companies face fines of up to $50m for failing to prevent scams. They may also be forced to compensate victims.

Companies on the hook would include those in the social media industry, as well as banks and telcos.

It’s a step in the right direction.

The latest report from the Australian Competition and Consumer Commission reveals 600,000 Australians lost close to $3 billion through scams. Not surprisingly there was a 17 per cent increase in social media scams.

Social media has changed our lives – for better and for worse – but it is time for those reaping the profits to abide by a social licence and be held to account.