The benefits from employing social media as a way to connect with stakeholders outweigh the risks, says David Bradford, the editor of a new survey of risk managers. Still, he says, the risks must be adequately addressed.
A wave of security breaches serves as a catalyst for all types of organizations to assess the need for cyber insurance. Here's the story of one institution that saw the threat and took out a $10 million policy.
What fraud and security issues does Paul Smocer, the new president of BITS, see as being top concerns in the coming year? Mobile payments, social media, and a strong need for institutions and organizations to comply with existing guidance top the list.
"You need to understand how you are currently using social media in your organization, and how you intend to use it, before you can define policies around social media," says Erika Del Giudice of Crowe Horwath.