5 Steps to Avoid Facebook Destruction in Business
How should my business balance the risks of social media with the rewards of this increasingly dominant and highly profitable marketing medium? That’s the very insightful question that a CEO asked me during a presentation I gave on information leadership for a Vistage CEO conference.
Think of your move into social media (Facebook/Fan/Business Pages, LinkedIn, Twitter, YouTube, etc.) like you would approach the task of helping your fifteen-year-old daughter prepare to drive on her own. You love her more than anything on earth and would do anything for her (just like you will go to great lengths grow your business), but that doesn’t mean you just hand her the keys. Trying to forbid or ignore the movement into social marketing is like telling your teen that they can’t get their license. It isn’t going to happen, so you might consider putting down the denial and controlling those pieces of change that are within your power. The task is to maximize the positives of her newly bestowed freedom while minimizing any negatives; the same is true in social media.
Here’s a simple plan to follow that will help keep you safe and productive:
Will Facebook Make Privacy Policy Understandable?
Facebook announced this week that it’s seeking user comment on a proposed redesign of its privacy policy that’s meant to make the policy easier to understand while bringing the world of legalese-smothered documents into the widget-filled realm of the 21st century.
In a post to Facebook’s site governance section, the company’s privacy team offers a look at its “first attempt” to re-organize, rewrite, and add interactivity to the current policy, which is essentially your standard mass of small black text.
Among other potentially interesting re-imaginings, the proposed redesign features an interactive tool intended to demonstrate how profile data is put to use in serving advertisements (click “Personalized ads” and scroll down to “Try this tool”). The tool puts Facebook members into the shoes of someone creating and targeting an ad. It’s not clear if users would deem it an educational aid or a nuisance in practice, but that seems to be part of why the potential redesign is being put to public scrutiny in this way.
Read Full Article on CNET. Read More from the NYTimes.
Social Networking Expert, John Sileo Interviewed on Tech Night Owl
Gene Steinberg, best-selling technology author and columnist interviews Information survival expert John Sileo. John reveals the best tips and tricks to protect yourself against identity theft, and how to improve security on your favorite social networks, such as Facebook and Twitter.
Click Here to listen to the full interview.
John Sileo is the award-winning author of two identity theft prevention books, Stolen Lives and Privacy Means Profit (Wiley, August 2010) and America’s top Identity Theft Speaker. His clients include the Department of Defense, FTC, FDIC and Pfizer; his recent media appearances include 60 Minutes. Contact him on 800.258.8076.
Airlines Facing New Cyberfraud
Any airline, or any company, for that matter, that hasn’t upgraded their fraud-protection system in the last couple of years is an open book of credit cards and financial information to hackers and thieves. Credit card abuse, where a thief enters a stolen card number on a web site, is the primary source of online fraud. A new type of online fraud specifically targets airlines – a thief hacks into a frequent flier account (which we generally protect with weak passwords) and books a ticket for an unsuspecting second victim (you and your miles being the first), who pays cash for the ticket resold to them by the thief. When you catch on, you go after the victim, not the thief, who is long gone.
Although the internet is very convenient for travelers to book flights, it is very susceptible to fraud. These types of cyber fraud cases can cost the airlines millions of dollars a year. According to a UK survey taken in 2009, 48% of US and global airline carriers had a rise in online fraud in the past year. The average airline is losing $3 million dollars a year from fraud with $1 million coming directly from credit card fraud. Some predict losses to be much greater. CyberSource, an electronic payment security-management company, released an airline industry poll last year and estimated total losses at $1.4 billion in 2008.
Facebook Privacy Breach – Eventually, We’ll Lose our Trust
According to a Wall Street Journal investigation, Facebook apps are sharing more about you than you think.
The Journal stated in their article, Facebook in Privacy Breach, that many of the most popular applications on the site are transmitting personal information about you and even your friends to third party advertisers and data companies. Apps such as BumperSticker, Marketplace, or Zynga’s Farmville (with over 50 million users) can be sharing your Facebook User ID with these companies. This can give as little information as your name, or as much as your entire Facebook Profile. In some cases, your data is being shared even if you have set your Facebook privacy settings to disallow this type of sharing.
According to the Journal:
“The most expansive use of Facebook user information uncovered by the Journal involved RapLeaf. The San Francisco Company compiles and sells profiles of individuals based in part on their online activities.. The Journal found that some LOLapps applications, as well as the Family Tree application, were transmitting user’s Facebook ID numbers to RapLeaf. RapLeaf then linked those ID numbers to dossiers it had previously assembled on those individuals… RapLeaf then embedded that information in an Internet-tracking file known as a cookie.”
RapLeaf in turn transmitted this Facebook ID and user information to a dozen other advertising firms.
Information Survival: Your Life Depends on It
I became a professional identity theft speaker because my business partner used my identity (and my business’s impeccable 40-year reputation) to embezzle more than a quarter million dollars from our best, most trusting customers. Thanks to drawn-out criminal trials and a seriously impaired lack of attention to my business, I suddenly found myself without a profession.
So I wrote a book about my mistakes, and with a little luck, it lead to a speaking career based in first-hand experiences with data theft. The formula works – sharing my failure to protect sensitive information and losing just about everything as a result – my wealth, my business, my job and nearly my family – is a powerful motivator for audiences, both as individuals and professionals. People only understand and act upon the corrosive nature of this crime when they can taste it’s bitterness for themselves. My goal has always been to provide a safe and effective appetizer of data theft that convinces audiences to feed on prevention rather than recovery.
But I’ve realized through my contact with exceptionally smart people, from the Pentagon and Department of Homeland Security to Fortune 500 executives and privacy experts, that identity theft (and it’s close business relative, data breach), are just symptoms of a larger movement undermining personal lives and profit margins on a daily basis – a movement that demands we be trained in the art of information survival.
Information Security Speaker: 5 Information Espionage Hotspots Threatening Businesses
You and your business are worth a lot of money, whether your bank accounts show it or not. The goldmine lies in your data, and everyone wants it. Competitors want to hire the employee you just fired for the thumb drive full of confidential files they smuggled out. Data thieves salivate over your Facebook profile, which provides as a “how to” guide for exploiting your trust. Cyber criminals are digitally sniffing the wireless connection you use at Starbucks to make bank transfers and send “confidential” emails.
Every business is under assault by forces that want access to your valuable data: identity records, customer databases, employee files, intellectual property, and ultimately, your net worth. Research is screaming at us—more than 80% of businesses surveyed have already experienced at least one breach (average recovery cost: $6.75 million) and have no idea of how to stop a repeat performance. These are clear, profit-driven reasons to care about who controls your data.
Here are 5 Information Espionage Hotspots that your business should address now:
Are Your Kids Safe Online?
As a parent you are often worried about what your kids are being exposed to on the Internet. Apparently so are Facebook and the PTA. They have teamed up to teach parents and children about responsible Internet use. They plan to cover cyber-bullying, internet safety and security and “citizenship online,” according to a news release.
“Nothing is more important to us than the well-being of the people, especially the many teenagers, who use Facebook,” said Sheryl Sandberg, Facebook’s chief operating officer.
Facebook is the number one social media site with over 500 million users and a minimum age requirement of 13. Even that requirement can be easily fudged because Facebook has no way of verifying a user’s age besides asking for their birth date when they register. Parents are having trouble deciding whether to let their children join Facebook prematurely and what they should be cautious of if they do so.
Learn more on Protecting Your Children Online.
It is important to be educated when dealing with any form of social media or social networking website. Social networking is immensely powerful and is here for the long run, but we must learn to harness and control it. You should know the ins and outs, pros and cons, risks and rewards to using these online tools. Because teens and children don’t necessarily have the life experiences to recognize the risks, parents must educate themselves and pass that knowledge on with open and honest discussions on Facebook and Online Safety.
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There is no final word on how to use Facebook safely. Here’s why: social networking and the web change too quickly. The social network you use today is not the same one you will use tomorrow or next month. The privacy settings, functionality, connectability and features are constantly evolving, which means that almost no one has a handle on every aspect of this topic. Those who tell you that they have the final answer are probably selling you something you shouldn’t buy.
This Survival Guide is an evolving document that I started writing for my young daughters and my employees, and is an attempt to give you a snapshot of some of the safety and privacy issues as they exist right now. Social networking, texting, instant messaging, video messaging, blogging – these are all amazing tools that our kids and employees use natively, as part of their everyday lives. In fact, they probably understand social networking better than most adults and executives. But they don’t necessarily have the life experiences to recognize the risks. I’d like to make their online vigilance and discretion just as native, so that they learn to protect the personal information they put on the web before it becomes a problem. Social networking is immensely powerful and is here for the long run, but we must learn to harness and control it.
Sileo In the Media
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