Australia's Financial Sector Involved in Innovative Teen Social Media Ban Compliance

Australia's financial sector is potentially playing a pivotal role in the enforcement of a teen social media ban starting this December. Industry insiders revealed that ConnectID, a verification tool owned by the country's top banks, could be integral to this unprecedented wave of regulation.

ConnectID, in collaboration with the Singapore-based age estimation provider k-ID, checks a user's age through bank account details. This combined technology is currently under trial by some social media companies in Australia, according to k-ID, marking a significant move in digital age verification processes.

This development may see Australian banks unexpectedly central to the international effort to safeguard teenagers online. The partnership aims to extend protection to gaming platforms as well, ensuring robust content moderation through their advanced verification systems.