In this era of big data, a company’s value may increasingly depend on the value of the information it has collected and stored. As companies amass ever-growing amounts of often sensitive personal data, the privacy and cybersecurity risks involved in mergers and acquisitions have become greater. As a result, today’s M&A transactions necessarily require deep due diligence on the privacy and cybersecurity risks posed by these deals, including a review of the M&A target’s communications on internal- and external-facing social media platforms.

In a practical webinar on September 26, 2017, Socially Aware contributor Christine Lyon and Mike Krigbaum discussed privacy and data security due diligence in M&A transactions. The topics they covered included:

  • Common challenges and pitfalls in performing privacy and cybersecurity due diligence;
  • The questions an acquirer’s team should ask to better identify, evaluate, and manage an acquisition target’s privacy and cybersecurity vulnerabilities; and
  • Steps the seller’s team can take to mitigate risk and help ensure that the deal is not jeopardized.

To view a recording of the webcast, click here.

Recent challenges to the Federal Trade Commission’s (FTC) authority to police data security practices have criticized the agency’s failure to provide adequate guidance to companies.

In other words, the criticism goes, businesses do not know what they need to do to avoid a charge that their data security programs fall short of the law’s requirements.

A series of blog posts that the FTC began on July 21, 2017, titled “Stick with Security,” follows promises from acting Chair Maureen Ohlhausen to provide more transparency about practices that contribute to reasonable data security. Some of the posts provide insight into specific data security practices that businesses should take, while others merely suggest what, in general, the FTC sees as essential to a comprehensive data security program. Continue Reading More Insight From the FTC on Data Security—or More of the Same?

As Socially Aware readers know, privacy and data security issues are among the most critical legal issues confronting companies that do business online. With ransomware attacks and hacking incidents on the rise, and with privacy and data security laws becoming increasingly burdensome, companies are spending more time and resources than ever before addressing privacy and data security issues. Indeed, Morrison & Foerster recently collaborated with ALM Intelligence to take an in-depth look at the types of privacy and data security issues with which in-house legal departments are wrestling, and how such departments are dealing with these issues. The resulting report is interesting and informative, and can be found here.

Instagram is now allowing a limited number of users to identify branded content with a “paid partnership” subhead instead of using hashtags like #ad and #sponsored to identify sponsored posts. The platform says it plans to police paid sponsors’ disclosure obligations eventually, but—for now—educating and gathering feedback from Instagram’s community and launch partners is all Instagram hopes to achieve with the branded content tool.

Authorities in Helsinki plan to debut in the autumn what will be the world’s first regular driverless transportation system to reach the masses: public, autonomous-bus services. Will the job of “bus driver” one day join the list (along with “silent movie piano accompanist,” “elevator operator” and “switchboard operator”) of occupations rendered obsolete by new technologies?

On free speech grounds, a German parliamentary body struck down a draft German law that would have imposed up to 50 million euros in fines on social media companies that failed to remove or block racist and fake news posts within 24 hours or seven days, depending on whether the content’s racist or false nature is unambiguous.

To ensure President Trump’s tweets from the official @POTUS account and his personal account are preserved for future reference, Rep. Mike Quigley has introduced the COVFEFE Act, which would amend the President Records Act to include social media posts—a change that would ensure the President’s deleted tweets are documented for archival purposes and would make deleting tweets a violation of the Presidential Records Act subject to disciplinary action.

In a post on its “newsroom” page, Facebook published a list of seven “Hard Questions”—inquiries that address many of the most pressing issues today’s social media companies face, from the definition of “fake news,” to the fate of deceased users’ accounts. The post instructs readers to weigh in by emailing Facebook at hardquestions@fb.com.

Hoping to expand its user base, Twitter made design changes to its app again.

Examining one of the many ways Internet of Things devices pose security risks, Ars Technica describes a security consultant’s demonstration of how, using terrestrial radio signals, hackers can control a slew of Smart TVs, spying on the TVs’ owners using the TVs’ cameras and microphones and attacking other devices in the TVs’ owners’ home networks.

Despite the impact social media marketing can have on brand reputation, 60% of Fortune 500 CEOs reportedly have no social media presence at all.

Marketing Land and Business Insider published pieces describing how to use Snapchat’s new self-serve ad-buying tool, Ad Manager, the messaging app’s attempt to make advertising on Snapchat simpler and more accessible to small businesses.

Inc. Magazine provides a clear explanation of how the blockchain works, which industries it’s likely to change and what’s standing in the way of the blockchain’s widespread adoption.

There’s a new dating app for singles with little patience for protracted email exchanges.

Twitter updated its online Privacy Policy to disclose that Twitter will be personalizing content and facilitating interest-based advertising by sharing information about its users’ online activity both on and off the microblogging site.

Since YouTube resolved to give brands greater control over the kind of content that their ads appear alongside, many of the platform’s content creators and personalities have seen their ad revenue plummet, and they’re not sure whether it’s a result of major companies continuing to avoid the platform, new ad-buying methods, or YouTube algorithms flagging their content as inappropriate.

A recently-released ABA ethics opinion states that, for communications with clients involving highly sensitive confidential client information, lawyers may need to take extra steps beyond using unencrypted email to guard against cyberthreats.

An IBM application built on its Watson artificial intelligence platform and designed to help financial services companies monitor their outside counsel spend reportedly saved one corporate customer close to $400 million a year in legal fees.

By advertising on quality news sites (and not just the big social media platforms where brands are currently spending the bulk of their online advertising dollars), corporate America can save not only critical watchdog journalism but also democracy itself, writes The New York Times’s Jim Rutenberg,

Has the influencer marketing model been jeopardized by the fiasco that was the Fyre Festival, which celebrity influencers including Kendall Jenner and Bella Hadid allegedly endorsed “without any proof of concept” and, contrary to FTC guidance, allegedly promoted on social media without clarifying that their posts were paid endorsements?

A new mental health app offers users support between professional therapy sessions by allowing them to anonymously message fellow members for support and by employing an artificial intelligence-based natural language processing system that can recognize and delete abusive messages and refer emergencies to a human moderator.

Wendy’s awarded a year’s worth of its chicken nuggets to a 16-year-old whose tweet asking the restaurant chain for a 365-day supply of the fast food went viral and broke Ellen DeGeneres’s record for the most re-tweeted post on Twitter (3.42 million retweets and counting).

In the most recent edition of his CyberSide Chat series, Socially Aware contributor Andy Serwin discusses ransomware attacks, including:

  • the reasons why ransomware attacks are becoming more common;
  • the types of ransomware attacks companies should prepare to address; and
  • the strategies that companies can employ to help guard against, and to help mitigate the damage arising from, these types of cybersecurity breaches.

Andy explains not only the defenses that companies can implement to protect themselves against a ransomware attack, but also the issues a ransomware-attack-response plan must address—a topic that another Socially Aware contributor, Nate Taylor, tackled in his Sept. 26, 2016 blog post 5 Questions to Help Prepare For a Ransomware Attack.

Check out Andy’s insightful presentation: