Far from being a corporate buzzword, information governance has become a critical part of business operations for companies of all sizes. As an increasing amount of business transactions and communications take place online, businesses must create policies and procedures for managing the vast quantities of data and information flowing in and out of their virtual doors.Read More >
The historic referendum vote in June to leave the European Union (EU) has left many questions unanswered and has left the UK in period of political, economic, and social uncertainty. However, the one thing we can be certain about is change.
What impact does this have on compliance, governance and GDPR?
Until the UK has triggered Article 50 to formally commence the exit process and begin negotiations with the EU, there is little or no immediate impact for UK businesses.Read More >
Traditional data capture methods for compliance archiving no longer provide what’s necessary in terms of capturing context to mitigate risks associated with eDiscovery and regulatory compliance.Read More >
Today, traditional investigative research includes social media. If your company is using social media platforms like Facebook, LinkedIn and Twitter but doesn’t have a way for recurring data captures to create a manageable social media collection, you’re most definitely at risk of losing critical information.
Deloitte contributes to the Risk & Compliance Journal section of The Wall Street Journal, and recently posted an article headlined “The Uses of Social Media in Investigations: Five Questions.” In the article, Wendy Schmidt of Deloitte discusses the results of a survey on social data and legal issues.
When asked how social media has evolved for investigative purposes, Schmidt said, “Social media data has become a core business and legal intelligence tool in a stunningly short time. Today, social media data analytics could potentially yield invaluable insights to support pre-transaction due diligence, third-party due diligence, fraud and insider threat investigations, asset searching and tracing, and litigation intelligence.”
Not surprisingly, Facebook and LinkedIn make up over 90% of the social sites companies surveyed. And while more than half of the survey’s respondents use Twitter, only 25% consider Twitter highly valuable in terms of investigations.
More than half of the 123 executives surveyed (55%) do expect the use of social media in their company to grow significantly over the next several months.
Any organization communicating through internal and external online channels needs a process to preserve and archive social media activity. Facebook, LinkedIn, Twitter and geo-located services like Foursquare and Yelp expose your company to regulatory compliance risks and certain legal requirements.
If you don’t have a repeatable process in place for social media archiving, you’ll likely find yourself mightily unprepared in the event of a compliance audit or court case.
Simply put, eDiscovery is not going away, especially in terms of social media. Courts around the world are evolving their approaches to social media eDiscovery and demanding more specificity in requests for social media information as they evaluate evidence.
Aside from the direct impact of compliance and legal risk, here are three indirect ways in which the lack of a social media archive could negatively impact your business:
Consider the following look-back scenarios:
- In a browser you open a 6-month-old preserved instance of a web page that displays a stock price. The stock price is supposed to update every 15 minutes. How do you know if you’re looking at the stock price that was displayed at the time of content collection?
- You view a preserved web page that contains an embedded YouTube video. Are you looking at the current version of that video on YouTube or the version that was available when the web page was preserved?
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Defensible eDiscovery technology for precise web content preservation is a solution to traditional data capture question marks – unknowns that could negatively affect the outcome of a court case or compliance review.
The following are three critical features you need in the defensible eDiscovery technology creating your web content collection
Many risks are associated with a lack of proper internal controls over preserving and protecting internal communications. These risks are especially acute if your company is involved in litigation or operates in a regulated industry.
With the introduction of free, easy-to-access web-based platforms for communication and collaboration, the risk is increasing for many organizations. Your internal web-based communications could be breached or otherwise compromised in a number of ways.
The following are five data capture best practices for protecting your internal communications from compliance risk, litigation and more:
The FSA, MiFID, SEC, FDA, FINRA and COPPA … these are just some of the well-known regulatory bodies enforcing rules on companies and government agencies operating within specific environments.
Enterprise web content is growing at an alarming rate of 40% to 60% per year and is projected to grow from under one zettabyte in 2010 to 40 zettabytes by 2020.
Regulatory compliance is already a high-stakes legal risk area for many businesses, and website and social media compliance regulations are also increasing every year.
Website and social media content continues to be a growing concern for eDiscovery. Gathering web content for evidence in a court case requires capturing quantities of unstructured, varied data across platforms, sites, forms, files and more, in native-format, rich media files.
To ensure you present a defensible content collection in court, consider the following three key eDiscovery solutions: