Facebook, MySpace, Twitter and other popular social networking sites are coming under federal scrutiny both here in the U.S. and abroad over their privacy settings for users accounts. The most notable of the social networking sites, Facebook, is receiving the harshest treatment of all. In January, Facebook changed their privacy features to allow the system to be more "open." Facebook's "openness" allows developers, marketers and search engines access to the personal data. However, it also allows cyber criminals and identity thieves access to the information as well.
If you are a business using social networking sites, EVS suggests updating your privacy polices to include how you handle personal information gathered online. Once you have updated your privacy policy, make it available to consumers so they feel safe using your business. As a business, if you collect personal information from consumers, it is imperative you have a sound fraud prevention plan in place. The ability to quickly run an id verification and id authentication program against your consumers can help prevent your business from catastrophic loss from cyber criminals and identity thieves.