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Compliance/Regulations News

Facebook, Twitter: Is social media out of control at work?

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Social media, by its very nature, is designed to be as inclusive as possible. But when you open your doors to everybody, you are also making information — possibly sensitive information — available to everyone. You are not only inviting your friends inside; you are clearing a path for your enemies.

For many organizations, an instinctive reaction to these aspects of social media is to pull up the drawbridge. But the truth is that a siege mentality is doomed to failure.

You cannot realistically hope to isolate staff from the likes of Facebook, LinkedIn, YouTube and Twitter — or at the very least, you cannot hope to do so without risking damage to employee morale. They do, after all, have private lives.

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Four Banks Closed on March 26

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Four banks were closed by state and federal regulators on Friday, March 26, raising to 46 the number of failed banks and credit unions so far in 2010.Below is a roundup of the latest failures:

McIntosh Commercial Bank

McIntosh Commercial Bank, Carrollton, Georgia, was closed by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

To protect the depositors, the FDIC entered into a purchase and assumption agreement with CharterBank, West Point, Georgia, to assume all of the deposits of McIntosh Commercial Bank.

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GoDaddy plans to stop China domain registrations

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(Reuters) - Internet domain company GoDaddy.com said it planned to stop registering domain names in China, joining Google Inc in protesting cyber attacks and censorship in that country.

"We believe that many of the current abuses of the Internet originating in China are due to a lack of enforcement against criminal activities by the Chinese government," Christine Jones, Go Daddy Group Inc general counsel, told a congressional commission hearing on Wednesday.

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The FTC offers tips on fending off P2P security risks

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Federal lawmakers and regulators are placing a spotlight on P2P security risks as employee and customer data continues to leak onto peer-to-peer file-sharing networks.

In addition to the P2P Cyber Protection and Informed User Act, which would require user approval when a P2P file-sharing program is installed and give the Federal Trade Commission the ability to introduce regulations that enforce the bill, the FTC has released a guide for businesses to protect against P2P security risks.

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