Where there is value, there is a risk of threat. According to a report by Social Media Perth, a surge in cyber criminals activities has been witnessed when it comes to gathering information through social media channels.
After all, the surfeit of data on social media platforms is a veritable treasure chest today. As surprising and unfortunate as it may sound, social media platforms like Facebook, Twitter are not safe anymore. These platforms which were designed to connect people within their families andsocial circles, are now posing a threat to security.
The cyber threat landscape is undergoing a change and the tactics used by cybercriminals is expanding and simultaneously innovating. These range from ransomware to encrypted threats.According to a study by Juniper Research, the collective cost of data breaches is expected to reach $5 trillion by 2024 with a huge share coming from social media.
Potential threats on Social Media
The cyber threats on social media can broadly be categorized in two parts:
As per SonicWall’s 2020 Cyber Threat Report, Facebook is the social media platform with highest number of security attacks and the reasons behind these are many:
More technology-driven we become; more security threats will come our way. One simple reason behind this is the ease that technology provides – an opportunity to peep into someone’s life. It has been found that social media platforms provide much more ease in the distribution of malware in comparison to any other website.
Clearly, the answer lies in the problem. With the introduction of Personal Data Protection Bill(PDP) in India, social media platforms will be required to tighten their protection policies. Platforms like Facebook, Twitter will become stringent against hackers and take definitive steps to stop distribution of malware by strengthening cybersecurity.
The proposed bill has many aspects that can help reduce social media risks for individuals. Itwill regulate personal data which includes any information collected online or offline to identify a person such as name, address, phone number, location, shopping history, photographs, telephone records, food preferences, movie preferences, online search history, messages, devices users own, and social media activity. While the organizations will be mandated to keep a track of the volume of data coming from the customers, conducting periodic security audits, appointing a data protection officer, and performing data protection assessments as per legal requirements and government regulation, social media platforms will also have to ensure that users verify their accounts.
Vigilance as an individual social media user and stricter policies as a policymaker are the only solutions to fight hackers and create a secure and safe social media experience.
Author: Debasish Mukherjee, VP Regional Sales- APAC at SonicWall