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Security concerns are nothing new when talking about the Internet. Since the dawn of the World Wide Web as a communications network for bringing the masses online there have been spammers, hackers, and identity thieves proliferating in the dark corners of the Internet. Dishonesty has been around since the evolution of man so shunning the Internet because of security risks is silly, but taking measures to protect your data is not.

Understanding the risks of sharing information online and across social networks is the first step for individuals and companies to protect their identity, reputation, and data in a Web 2.0 world. Common Internet security risks include the following…

Data Theft – Information is stored online in databases that can be accessible to many. Popular online destinations usually take stringent measures to keep their databases secure but smaller sites and applications can be more lax on security. No database is 100% secure so be wary of how much of your sensitive information you share online.

Information Leakage – When talking about business and social networking there is always the possibility that an employee sharing information online whether in a personal or business context can unintentionally reveal company information that should not have been shared. Company policies that outline Internet usage are important for setting boundaries for employees on what information can be discussed in a social setting.

Targeted Attacks – By collecting information that may have unintentionally been leaked over the Internet, persons or companies can launch targeted attacks on their adversaries by citing multiple online sources.

Software Vulnerability – Bugs and flaws are the nature of the beast when talking about any type of software. With the mass amount of online applications launching every day there are undoubtedly security issues in the code that developers are unaware of or are having issues patching up.

Spam and Phishing – Unsolicited advertisement spam is a nuisance in itself but phishing for passwords, credit cards, and other sensitive information through spam or hacked accounts can be a big security risk.

Content Alteration – If ongoing measures are not taken to keep information about your company secure and valid then hackers and impostors can alter or generate content related to your company for personal gain or defamation.

Malware Dissemination – Social networks are an easy way to distribute malware. Hacked and impersonated accounts can trick users into visiting websites that infect computers with viruses, worms, Trojans, bots, keyloggers, spyware and more.

Business Reputation – Targeted attacks, content alteration, or just plain trash talking can damage your business reputation. It’s important to keep track of how your company and brand names are being used online. Social media analysis and reputation management solutions are available specifically for this reason.

Source: The Risks of Social Networking and the Corporate Network

Related: Some Twitter Users Likely Unaware of Security Risks

Traditionally companies handled consumer complaints directly or through authorized vendors. If you had a problem with a product or service you’d either go to the place of purchase or contact the company directly. If the problem was handled swiftly and to the satisfaction of the consumer then most likely their were no negative repercussions for the company and possibly even praise for excellent customer service. However if you had an unsatisfactory result then you were likely to spread negative feedback among your friends and family and the news would travel through the grapevine. While this is not the type of word-of-mouth publicity companies are looking for, usually the distance that the unfavorable information travels is reasonably finite, and the damage isolated.
 
The advent of social media produced a viral method of distributing information including thoughts, ideas, rumors and opinions. Negative feedback about your company can spread like virtual wild-fire through a number of social media channels. Claims made against companies, whether true or false, once published on the Web have the potential to never disappear. In many cases you can request false information be removed either directly by the author, the publishing platform, or the hosting company. Software and hosting companies do not want your legal troubles so they usually expedite such matters. If your request falls of deaf ears typically a cease and desist from your legal council is enough to do the trick. Sometimes, however, these claims ring of truth or are merely opinions protected under the First Amendment. In these cases it is pertinent that companies appropriately respond to such statements in order to salvage their reputation and their business.
 
Social media monitoring, metrics, analysis and reputation management companies offer solutions to track what is being said about your company across popular social networking platforms, blogs, forums, news outlets, and more. You can track keywords, phrases, demographics, geo-locations, and know exactly where to send your corporate bag men to silence the source (just kidding… or are we?).
 
Not only can you drill down the sources of information about your company, you can also identify which individuals are influencing conversations about your products or industry and engage with them directly. Some solutions, such as Sysomos Media Analysis Platform (MAP) offer collaboration features that allow you to share information with co-workers and across teams. Similar products include ReputationDefender, Sentiment Metrics and SM2 from Techrigy.