Social Media Compliance Risks and Cybersecurity Threats

The fact that the use of social media for professional networking is growing at an exponential rate is something almost everyone is aware of. Businesses around the world use social media to connect with potential customers and employees, gain market intelligence and boost their marketing efforts.

However, social media also comes with some serious compliance concerns, and companies that do not properly address these risks face the potential of losing customers, contracts, money, and market reputation.

While many companies are unaware of the existence of social media compliance risks, the reality is that their use of social media poses certain cybersecurity challenges.

What are the most common risk factors for social media compliance?

human errors

It is estimated that 88% of all data breaches can be attributed to human error. While human error is inevitable, it becomes a problem when it has serious implications in the field of cyber security. Employees often make mistakes because they are unaware that they are doing something wrong.

Those who use social media to contact potential customers, contact new business partners or for recruitment purposes can receive sensitive personal and official data in their inboxes, email history, etc. And it is imperative that they be careful how they handle processing this data.

Phishing attacks

While phishing emails have become commonplace, social media phishing is on the rise. While some attacks aim to steal information, others will try to defraud the company out of money by convincing employees to make unnecessary purchases or share privileged credentials.

Weak passwords

Many employees still use easily cracked passwords for their social media accounts, both personally and for official use as well. Users may mistakenly assume that they do not require a strong password for these accounts because of the perceived sense of lower risk. However, using strong passwords for Facebook, LinkedIn, and even Instagram accounts is essential for those who may be using social media to connect with clients, for recruiting purposes, etc.

How to reduce social media compliance and cyber security risks?

Given the many compliance risks associated with social media use, it is essential that companies take steps to reduce the risk of human error, phishing attacks, weak passwords and other issues.

Here are four suggestions for reducing social media compliance and cybersecurity risks:

Create a social media policy that outlines expectations

A social media policy for your company is critical. If your company and employees use social media for commercial purposes, this policy should serve as a list of best practices. A solid social media cybersecurity policy can help reduce the risk of cybersecurity breaches, negative publicity, and legal issues.

If you don’t know how and where to start building your cyber security policy, you can consider hiring a virtual cyber service that can help you get started in a convenient and cost-effective way.

The social media policy provides employees with guidelines for the use of social media, prevents mistakes and ensures that the company adheres to the acceptable use of social media platforms.

Copyright, privacy and brand standards are all things you need to address in your social media posts. Social media can be a great way to connect with colleagues and clients, but it’s imperative to set expectations for how it should be used for professional purposes and how to avoid common pitfalls.

Implement multi-factor authentication

There is a simple solution that can be used on all social media accounts to significantly increase their security. Every major social network now has one Multi-Factor Authentication (MFA). When you try to log in, it actually asks for another type of identification.

Credential verification services come in a wide variety of forms. Either a passcode will be delivered to the user’s mobile device, another passcode will be entered, or biometric data will be verified.

MFA can help reduce the risk of data breaches and protect against social engineering attacks.

Use an enterprise-grade social media archiving solution

Business owners are increasingly concerned about the potential consequences of social media breaches. Fines and penalties, as well as damage to a person’s reputation, can result from violations.

In court, social media evidence can prove invaluable, potentially costing businesses a fortune in fines and damaging their image.

By taking precautions to reduce the risk of non-compliance with social media policies, businesses can avoid these outcomes. While social media compatibility issues cannot be completely eliminated, Social media archive software is a valuable tool for minimizing such risks.

Educate your employees

One of the biggest challenges companies face in social media compliance is the need to educate employees about the risks associated with using social media.

Employees often mistakenly believe they don’t need to take precautions against cyber threats, and employers must convey to employees that cybersecurity is everyone’s business, not just theirs.

Providing adequate cyber security training to staff is essential. You may also consider enrolling some key members of your IT & Incident Response team in compliance and governance training that can better equip them to understand and comply with cybersecurity standards and regulations, not just regarding social media.

Employees need training on how to be safe on social media. Good training can alert workers to potential hazards and provide them with the knowledge and skills they need to solve problems as they arise.

You

The use of social media has a variety of advantages, but it is also accompanied by a variety of risks. These risks can be mitigated through appropriate social media compliance policies and the use of an enterprise-level social media archiving solution.

By addressing social media compliance risks, you can avoid a variety of potential cybersecurity and data privacy issues and protect your reputation and bottom line.