Imagine sitting in a bar, as a stranger snaps a photo of you, and then uses that image to find out who you are using facial recognition technology. It's the type of practice that the staff of the U.S. Federal Trade Commission wants to discourage.
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.
The social network Myspace has settled with the Federal Trade Commission over misrepresenting its privacy policies by sharing personally identifiable information with advertisers without first getting permission from users.
Value? It's coming in more shapes and forms than ever before, says Kosta Peric of SWIFT. So how can financial institutions embrace these new values and provide products and services that meet growing consumer demand?