ABSTRACT
This chapter describes the federal financial institutions examination council, social media is a form of interactive online communication in which users can generate and share content through text, images, audio, and/or video. The use of social media to attract and interact with customers can impact an organization's risk profile, including risk of harm to consumers, compliance and legal risks, operational risks, and reputation risks. The increased risks can include the risk of harm to consumers, compliance and legal risk, operational risk, and reputation risk. Working with third parties to provide social media services can expose organizations to substantial reputation risk. Even when an organization complies with applicable privacy laws in its social media activities, it should consider the potential reaction by the public to any use of consumer information via social media. Social media is one of several platforms vulnerable to account takeover and the distribution of malware.
