Social Networks Are Not Secure!

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Celent have reviewed this profile and believe it to be accurate.
24 April 2009


  • Undoubtedly, the simple bank to FB integration is not the way to go, but Social Networks are extremely important for banks and their future, specially with the fast pace of change for Gen Y and beyond. Including also payment solutions over social networks, banks need to consider this area as they considered the risky card payments business when it emerged 30 years ago and then to adopt the best solution possible to make it right. But avoidance is not an option.

  • [...] Banks need to monitor for new anti-bank Twitter Users. More anti-bank users will pop up and their follower base will grow. It is important for banks to manage their brand and make sure their company name is being used appropriately. Banks also need to watch for username squatters who will try to social engineer credentials from unsuspecting customers (see my post, Social Networks Are Not Secure!) [...]

  • Jacob, you might be interested to learn that BofA is working with a third-party vendor to create a client program that tracks Twitter "service tickets." There's no announcement as of yet. I figured this out with some sleuthing yesterday.

  • [...] while back I blogged about the security risks associated with social networks (see One of the risks of social sites like Twitter is the ability for a fraudster to pretend they are [...]