Internet Censorship.

I guess all of you have heard of the term INTERNET CENSORSHIP or more infamously the Chinese Firewall. Recently I have been seeing a lot of cases of abuses done in the name of globalization.
Youth are being taken in by porn sites. Religious abuses are rampant.
Earlier all this was limited only to hacking of bank accounts. However nowadays, it looks like all this is fast becoming a business under the name of modernity and globalization.

Coming to the point directly, can we have a similar censorship on internet like we have it on cable and movies? If it exists already, can we somehow make it strong? What are the laws for it?

P.S I am getting a real hatred against those who are corrupting the society with internet.