Trending News: Avoid Being the Next Data Breach Headline
Facebook is another reminder why due diligence is vital to all businesses
With Facebook’s data breach still making headlines a month after news broke, the public and the world at large have become increasingly aware of how their online data is being used, and the implications this has on their privacy. There were clear missteps in Facebook’s vetting process.
Current revelations show Cambridge Analytica, a British data analysis firm, collected personal information from the Facebook profiles of up to 87 million users without their permission.
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Facebook is not the first or the last company to face intense scrutiny about their data and privacy terms of service. In recent years Equifax, InterContinental Hotels Group, Yahoo, River City Media and eBay have all had their users’ information compromised and used by an unauthorized authority. Ponemon Institute estimates an average breach cost of $3.5 million in 2017, with a 27% probability that a U.S. company will experience a breach in the next 24 months that costs them between $1.1M and $3.8M.
With the multitude of IoT devices in everything from coffee makers to home security systems, the sheer volume of vulnerabilities in software makes securing personal data a considerable challenge.
A proactive approach to corporate due diligence is vital to keep customers, stakeholders and policy makers happy. Has your company done the leg work to protect the organization and their customer base?
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To prevent future platform abuse and protect your customers, Prescient, a global risk mitigation and compliance firm can offer tech giants and companies across industries the following services:
- Cyber intelligence
- Due diligence services
- Investigative solutions
- Background checks
We help online communities like Facebook implement a vetting process for third-party app developers. Using intelligence-based analysis techniques and open web research, our analysts pinpoint a subject’s identity, uncover hard-to-find red flags, and avoid the challenges brought on by automated checks.
Vetting Your Current & Future Employees
Our experts review negative press coverage, sanctions information, open web sources, and social media profiles to discover reputational red flags associated with current employees and future hires, to ensure you know who is handling your sensitive infrastructure. Additionally, we meticulously consult an array of resources and navigate complex regulations on a state-by-state basis to keep your organization fully informed and FCRA-compliant.
Vetting Third Parties
Managing risk at your organization is fraught with enough internal challenges, let alone having to account for the actions of third parties that may be out of your control. With Prescient’s specialized due diligence reports, we take the guesswork out of selecting new service providers by equipping you with key information that helps limit your company’s exposure to external risks.
When potential vendors, suppliers, or distributors need to be vetted, our analysts use intelligence-based analytic techniques to uncover operational inconsistencies, unlawful business activities, or reputational warning signs. Our services form the backbone of a robust risk-based anti-corruption program that clarifies who you’re partnering with and helps your company comply with the Foreign Corrupt Practices Act (FCPA) and Anti-Bribery & Corruption regulations
Here’s specific capabilities that could help Facebook strengthen their developer vetting process, uncover political ties and possible conflicts of interest, and verify intent claims:
- Identity Verifications
- Criminal Record Searches
- Employment & Education Verification
- Professional Credential Confirmations
- Full-Scope Reputational Reviews
- Social Media & Deep Web Reviews
- Negative News Reviews
- Boots-on-Ground Investigations
- Ongoing Monitoring
Prescient began as an intelligence and national security contractor serving U.S. federal customers. Today we work with clients in a range of industries to offer due diligence, investigations, and background checks that empower confident decision making. Our insights are designed to help your team ensure the people your company engages with don’t present hidden risks down the line.