Some of the risks include reputation risk from what may be posted, compliance risk for bad advertising, legal liability, identity theft, privacy issues and malware infections, to name a few.
Consider this rule of thumb that should always be considered when posting to social media, "Say it - forget it; Write it - regret it." Consider the recent case of Miss Teen USA, who, within hours of being crowned, was criticized for racial slurs on her Twitter account three years ago. For the bank, the key is knowing that what was written was professional, true, correct and allowable. A bank could be criticized if a spokesperson for the bank had tweets such as those made by this young girl.
Learn more about Andy Zavoina’s webinar Social Media Requires Compliance Too