Social Media Risks for Businesses
Social media has become incredibly important in both personal and professional contexts. Most people use social media daily to share photos and updates, connect with friends, and stay informed about the latest news and trends. Similarly, many businesses rely on social media to drive revenue and build brand awareness by attracting customers and potential employees.
However, the significance of social media comes with its challenges. Cybercriminals exploit social media to launch cyberattacks and scams to damage reputations or access confidential information. Research indicates that one in five organizations has encountered malware from social media platforms. This vulnerability is partly due to the open nature of social media, where users are more receptive to unexpected encounters. The ease of making connections and sharing content also makes social media an ideal breeding ground for spam and malware.
This article discusses the risks social media poses to businesses and how to mitigate these risks while keeping employees safe online.
Facebook Scams
With over 2.6 billion monthly active users, Facebook is the most popular social media app globally, posing significant security threats to businesses. It is often the primary target for aggressive spam attacks. These attacks can take over a user’s Facebook profile, posting unsolicited advertisements or graphic content designed to shock. Commonly, these spam attacks encourage users to click on malicious links, which can lead to scammers reposting unsolicited content on your Facebook timeline. If employees’ Facebook accounts get hacked and are linked back to their businesses, the repercussions could harm their reputations.
Twitter Scams
Similar scams occur on Twitter. Scammers often create fake accounts that follow users randomly, typically posing as attractive individuals to entice users to follow them back. Once followed, these accounts may send direct messages with links that can compromise your account if clicked. These scams pose a legitimate security threat. Scammers may manipulate users into visiting malicious websites or downloading harmful content, which could lead to serious consequences in a workplace setting.
Compliance Breaches
If employees are managing social media accounts for your business, they might inadvertently release confidential information. Sharing sensitive data can lead to breaches of laws and compliance regulations, including infringements of trademarks and copyrights, data security issues, and privacy rights violations. Consequently, your business could face significant fines and damage to its brand and reputation
Reputation Damage
Consumer opinions can spread rapidly on social media. Having a crisis plan and monitoring social media channels is crucial to effectively managing negative reviews and comments. Additionally, employees may accidentally share inappropriate content that could be traced back to your business. Inappropriate messages, unrealistic service expectations, or unprofessional conduct can severely impact your business’s reputation, predominantly when they originate from employees.
Third-Party Apps
Linking social media accounts to vulnerable third-party apps can create ‘back doors’ that allow cybercriminals access to your information and enable them to send inappropriate messages through your social media channels. Businesses of all sizes can fall victim to third-party app scams; for example, FC Barcelona’s Twitter account was hacked in February 2020 due to this vulnerability.
Unsecured Mobile Phones
Many employees have social media apps on their mobile phones, often logged into business accounts. If a phone is stolen, cybercriminals could gain access to these accounts, allowing them to post malicious or inappropriate content and share phishing scams with your connections.
How to Stay Safe from Social Media Risks
Restricting social media access is no longer a viable solution for modern workplaces, as some employees require access for marketing purposes. Below are recommendations for minimizing social media risks:
- Ensure you have a robust cybersecurity strategy, including necessary measures to protect your data and employees from cyber threats. By having the proper layers of protection, you can effectively address potential social media risks. Consult with your IT partner for suitable cybersecurity solutions tailored to your business.
- Enrol your employees in cybersecurity training to raise awareness about these risks and how to avoid them.
By implementing these strategies, businesses can navigate the potential pitfalls of social media while reaping its benefits.
