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Social Media Requires Better Risk Management, Accenture Report Shows

Roberta Holland | October 15, 2014

Traditional risk management policies are not sufficient when it comes to handling the plethora of exposures posed by social media, a new report from Accenture Finance & Risk Services cautions.

The Accenture report, “A Comprehensive Approach to Managing Social Media Risk and Compliance,” addresses the growing importance of social media to business and how business can take advantage of new platforms effectively. The report notes that the global social network audience is expected to hit 2.55 billion by 2017, and highlights a number of hidden pitfalls. For example, your employee’s innocuous LinkedIn account could be providing access to your client list, or Millenials used to over-sharing personal information on social media sites could unwittingly disclose confidential information and land their employer in trouble with regulators.

“At issue here is the fact that...

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