A recently released IC3 fraud advisory for businesses, entitled "Corporate Account Take Overs," addresses the growing problem of criminals targeting small- to medium-sized businesses (SMB's), local municipalities and school districts for bank account takeovers. The take overs culminate in costly and potentially ruinous "cyberthefts" where accounts are subject to a series of wire transfers or ACH payments that empty part or all of the account's funds to overseas banks.
Social networking entails some risks and responsibilities. It may implicate privacy and labor law, confidentiality and nondisclosure agreements, advertising regulations, defamation, and other legal regimes, across borders in a global medium. Users, and their employers, need to be aware of these risks and responsibilities in deciding how to make best use of social media.