Social Media and Web 2.0: Risk, Reward, Regulation and an expectation of Privacy? - BDI 6.17.10 Financial Services Social Communications Leadership Forum
Presentation: Social Media and Web 2.0: Risk, Reward, Regulation and an expectation of Privacy?
Presented by: Sarah Carter, VP, Marketing, FaceTime Communications
Everyone’s at it.
In marketing we all want to use Facebook to generate great connected leads and opportunities. The sales team are desperate to use LinkedIn to share information with prospects and customers. The executives are clamoring to use Skype. Investor relations want to Tweet. And compliance and the IT department are saying NO? Sound familiar? As more and more organizations look for new ways to stand out above the competition, they turn to empowering employees with the tools they need to collaborate and communicate more effectively. Web 2.0, social media and innovative communications technologies represent both a great opportunity and potential for risk for any business, especially those in the financial services sector. This session will
- Give you insight into the rise of social media and its impact - good and bad - on the financial community;
- Share important findings from FaceTime’s fifth annual survey on Web 2.0 usage and contrast other industry data.
- Give you the low down on regulation that you need to be aware of – including an overview of new regulatory guidance on social media and potential gotchas
- Provide a best practice approach along with some examples of how financial organizations the world around are using social media to its best effect;
- And we’ll share how you can do all of this and ensure it’s done in a secure, managed and compliant fashion.
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Social Media and Web 2.0: Risk, Reward, Regulation and an expectation of Privacy? - BDI 6.17.10 Financial Services Social Communications Leadership Forum
1. Social Media and Web 2.0:
Risk, Reward, Regulation: Privacy?
Sarah Carter
FaceTime Communications, Inc.
http://www.linkedin.com/in/sarahlouisecarter
@SarahFaceTime
2. Agenda
Tracking the Communications Revolution
Regulation and Compliance are Tracking the
Revolutionary movement too
So Why? What’s with Social Media?
Why Security and Compliance may say “no”
Ouch the Social Internet can be a painful place
What can you do to meet compliance reqs?
A comment on Privacy
Questions and reference material
3. Tracking the Communications Revolution
• Public IM
• P2P
• Anonymizers
• VoIP • Financial IM
• Social Networks • Unified Communications
• Games • Web Conferencing
• Virtual Worlds • VoIP
• IPTV • Remote Admin Tools
Source: FaceTime Annual Greynets Surveys 2007 – 2010 & Projected
4. Internet Application Usage - Perception vs. Reality
Perception: 62% of IT Professionals estimated social networking was used within
their corporate network
Reality: 100% of companies used social networks
Perception: 60% of IT Professionals estimated IM was used on their network
Reality: 98% of companies used IM
Actual customer traffic history (150+ organizations)
Representing all Internet activity from over 150K end users
6. So Why? What’s with Social Media?
Wins and Losses: “ I can’t get the right person”
5,980 6,060 62,300
USA: Financial Services, Banking, Capital Markets
Sales = 291,380 Marketing = 75, 270 Legal = 28,258
NYC Sales = 35,338 Marketing = 13,227 Legal = 7,129
Usage Sea Change
– 35m FB status/day, 5 billion pieces of info shared each week. 3.5
million events created each week.
It’s MY Network YOU want
It’s tribal
7. Why Security and Compliance may say “no”
Data Leakage Incoming Threats Compliance & eDiscovery User Behavior
Personal SEC, FINRA Employee
Information Malware, Spyware Productivity
HIPAA, FISMA
Intellectual Property Viruses, Trojans Bandwidth
SOX, PCI
Credit Card, Explosion
Inappropriate
SSN FRCP- eDiscovery
Content Every employee is
Client Records FERC, NERC the face of business
8. Ouch. The Social Internet is a painful place..
Matrixx stock price
– The nasal spray form of cold remedy Zicam, produced by
Matrixx Initiatives, has potentially been found to damage
some peoples’ sense of smell. This news was first revealed
in Twitter discussions on June 15, 2009, resulting in a drop in
Matrixx’ stock price from $19.24 that day to $5.78 on June
16th. The stock has not been higher than $6.55 since that
time. Its $5.21 now.
Pharmaceuticals Research
Habitat UK
Nestle
9. FaceTime Communications: Real Time is our business
Secure and Enable the New Internet
– 4,000+ Web 2.0 apps, Unified
Communications, Social Networks
Global operations
– USA, EMEA, India, Asia/Pacific
Market Leader
– The top US banks
– Insurance, Energy, Healthcare, Consumer
Products, Government…
Broadest Partner Ecosystem
– Technology alliances
10. Social Networking Feature Support
Issue Control Requirements
Data Leak Prevention/Content
Protect organization from employees disclosing sensitive information
Protection
Protect network against hidden Phishing/Trojan attacks through
Malware Protection
applications
Ensure that SarahFaceTime on Twitter, Sarah Louise Carter on
Identity Management
LinkedIn & sl_carter on Skype connect back to her corporate identity
Post content, status updates, allowed for marketing. Read only access
Activity Control
for all other staff.
John’s posts appear on Twitter or Facebook only upon approval by
Moderator Control
Compliance Officer
John can access Facebook, but not use Facebook chat, or download
Granular Application Control
and install any applications in the gaming category.
Log all content posted, message sent through Web 2.0 and social
Log and Archive Activity & Content
networks
Export stored data with corporate identity credentials to email archive,
Use Archive of Choice
WORM, for single discovery location
F U V
11. Levels of Control: SN Widget categorisation
FaceTime:
– Control access to
individual SN sites.
– Allow / block
application widgets
on popular sites
– By category or
individually by
searching for them
12. Levels of Control: SN feature control
FaceTime:
– Control features or areas of content posting – by User / Group
– E.g. Make the sites read only
13. Social Networking – Content Monitoring
FaceTime:
– Summary of policies
– Point and click policy editing for:
Features to monitor
Some features can also be moderated
Dictionaries to use, e.g.
– 1 match in ‘CorporateIdentities”
dictionary AND
– 1 match in “profanity” dictionary OR
– 1 match in “SecretProjects”
dictionary
Action to take
14. eDiscovery of Social Networking Posts
FaceTime
– Social Networking activity and
posts captured.
FaceTime
– All the captured
social networking
events are
presented for
eDiscovery and
available for export
to archiving
platforms.
15. Levels of Control: Moderation
FaceTime
– Posts to Twitter / Facebook /
LinkedIn held for review by
following criteria:
All
Keyword / dictionary matches
Regular expressions (e.g.
Credit Card / Social Security
number patterns)
16. And finally: Privacy?
Australian Case from 2008:
Hi Kyle,
From: Niresh Regmi
Usually that is the case, as per your From: Kyle Doyle
Sent: Wednesday, 27 August 2008 9:50 a.m.
From: Niresh Regmi
contract. However please note that Sent: Wednesday, 27 August 2008
To: Kyle Doyle 27 August 2008
Sent: Wednesday,
leave during these occasions is only 9:38 a.m.
Subject: RE: Absence on Thursday 21st Niresh,
9:35 a.m. Hi 2008
granted for genuine medical reasons. To: Niresh Regmi
You Kylemanager has determined
To: line Doyle My leave was due to medical
Subject: RE: Absence on Thursday
Hi Kyle, reasons, so you cannot deny leave
that your Absence on Thursday 21st
Subject: leave was not due to 21st 2008
2008I believe the proof that you are after isbased on a line manager's discretion,
below
medical reasons and as such we
cannot grant leave on this occasion. with no proof, please process leave
Niresh,
Hi Kyle,
NIRESH REGMI as requested.absences do not require
1 day leave
Please provide a medical certificate Thanks
a medical certificate as stated in my
stating a valid reason for your sick Regards, provided I have stated that I
contract,
leave on Thursday 21st 2008. Kyle Doyle
am on leave for medical reasons.
Thank You Thanks
NIRESH REGMI Regards,
Real Time Manager, Workforce
Operations Kyle Doyle
Resolutions Expert - Technical
17. Summary
10 years expertise in real-time communications
Widest industry support for Web 2.0 applications
Gartner Magic Quadrant ‘Visionary’
IDC leader for 5 consecutive years
Your trusted partner for real-time communications and compliance
Reference Materials:
– 2010 Survey results; Osterman Research White Paper