Social media and the potential threat it poses to reputation risk and protection of confidential information are significant risks to European businesses, according to a survey by the Federation of European Risk Management Associations in cooperation with the Institute of Risk Management (IRM).

Risk professionals from both organizations were asked which three cyber risks they thought were the greatest threats to business in general and to their own organizations. A total of 186 replied to the online survey during August and September (2011) intended to inform the two organizations’ discussion about risks of the virtual world.

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