Welcome to the age of social media. If you’re here, chances are you already know how powerful these networks can be for your business. From promoting your products and services to improving customer service, social media provides an invaluable line of communication between you and your customers.
However, great power comes great responsibility – or at least greater security concerns. Because social media conversations happen out in the open, they are far more susceptible to fraudsters than traditional email communications. For this reason, social media companies have begun implementing SOX compliance solutions into their platforms which will help safeguard user accounts from malicious activity.
Social Media SOX Compliance Improvements
Two Factor Authentication
There are several steps that both Twitter and Facebook have taken to improve their SOX compliance, but the most notable has been their implementation of two-factor authentication. This security feature requires you to enter a unique code sent to your phone to sign in to your account. Two Factor Authentication helps ensure that only authorized users can access your account, even if they have obtained your login information.
Fraud Detection Systems
In addition to two-factor authentication, both Twitter and Facebook have beefed up their fraud detection systems. These systems use algorithms and machine learning techniques to identify suspicious activity, such as unusual login locations or sudden changes in account behavior. Fraud detection helps prevent malicious actors from compromising user accounts, stealing data, or spreading misinformation.
While social media companies have always been conscious of the security risks associated with their platforms, recent events have made it a top priority to strengthen their security features.
Data Usage Controls
In light of the Cambridge Analytica scandal, Facebook has announced that it will be making even more changes to its data privacy policies. These changes include tightened restrictions on how third-party developers can access user data and increased transparency around which ads are being shown to users.
Twitter has also been making changes in response to the Cambridge Analytica scandal. In addition to beefing up its fraud detection systems, Twitter has announced that it will be introducing a “transparency center,” which will show users all the ads targeted to them. Usage controls will help users better understand how their data is being used and control which ads they see.
Stronger Password Requirements
While the big social media companies have made huge strides in improving their security features, they still have a long way to go. For instance, Twitter and Facebook allow users to use extremely weak passwords, such as “1234” or “password.” While these passwords are easy for authorized users to remember, they’re also incredibly easy to guess by automated bots.
You can secure your accounts with strong passwords to ensure they will be resistant to hacking attempts. It’s important to make sure you create unique passwords for each social media profile. It’s best practice to use at least eight characters (even if it might take you a little longer to type) and include numbers, symbols, uppercase letters, and lowercase letters in your password. It’s also important to enable two-factor authentication for each of your accounts wherever possible.
Removal of Bot Accounts
In the past, Twitter has been a popular platform for automated bots that post spam messages and false information. Twitter is now attempting to crack down on them. According to their policies, all users are prohibited from running any automated bots on the social media platform. Instead, users are required to use interfaces designed for humans.
These changes are helping make social media platforms more secure for users across the world, even as they can still be abused. For instance, Twitter bots often send out negative tweets that could harm users’ mental health, while Facebook bots spread misinformation during elections.
Monitoring of Suspicious Login Attempts
In response to these challenges, social media companies are working on monitoring suspicious login attempts. Companies can keep malicious actors away from users ‘ accounts even more effectively by identifying when someone is attempting to log into an account from a new location or device they haven’t used before.
While these changes may seem like a lot of extra work for business owners, they are necessary to ensure the safety and privacy of your customers. By using social media responsibly and ensuring that your accounts are as secure as possible, you can rest assured that your business will thrive in the digital age.