Cyber risks in social media

Abstract

Social media is an internet tool often used by businesses to communicate with customers, clients, vendors and other businesses. It is used for financial transactions with customers and to pay employees and manage the company. But social media and the internet are fraught with risks that businesses should be aware of, risks that could impact their company, their employees and their clients. Companies need to be aware of what the social media risks are and mitigations that can be taken to reduce those risks. While social media threats cannot be removed, actions can be taken to reduce the probability that they will be successful and to reduce the impact if they succeed. The impact of a threat gaining internet access to a business could cripple a company financially, others could damage relationships, but all would impact the company’s ability to grow and thrive.