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.
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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.