Social Media Security Part 2

Social Media Security & Risk to Business

Every industry faces a unique set of risks on social, many of which have put organizations in the press or at the center of controversy.

Whether it’s blocking targeted phishing attacks, protecting corporate accounts from compromise, fighting fraud or defending against scams and impersonating accounts, social media security is critical for modern business success.

Business Growth Rate via Social Media

Due to consumers' migration to social media channels, organizations that create brand value through social media reputation have vastly outperformed the market (growing 103% in market value vs. 63% for the S&P 500 and 30.3% for the MSCI World Index) since the launch of Facebook in 2004.

Social Media Risk to Business

1. BRAND INTEGRITY & OFFENSIVE CONTENT

Nearly 70% of customers go to an organization’s Facebook page before making a buying decision, and protecting brand reputation is a no-brainer for every modern marketing team.

Identifying and removing fake or fraudulent social accounts is now a top priority.

Additionally, a single offensive inbound post or outbound employee comment can dissuade buyers from trusting your brand. Brands must also protect their communities by identifying sensitive information posted publicly.

2.FRAUDULENT & SPOOFED ACCOUNTS

Building a fraudulent account takes a cybercriminal no more than 15 minutes and an internet connection.

With a fake account in hand, be it impersonating a brand, a customer support account, a recruiter or an executive, hackers can launch a host of targeted attacks, including customer scams, spearphishing, social engineering campaigns and more.

Fraudulent accounts are the foundation for cybercrime in the age of social media and digital communications, and they radically lower the barrier to entry for attackers going after your revenue

3. PIRACY & COUNTERFEIT GOODS

Going viral” is both a blessing and a curse. Stolen items, pirated content or counterfeit goods can perform just as well or better than the genuine version of the product that your company is trying to promote.

A 1% loss in social media revenue can spell disaster for organizations big and small. The total global cost of piracy alone is $70 billion annually.