Social Media Storms

The social media storm that cost Credit Suisse billions in assets could happen again. Swiss banks are largely on their own when dealing with such cases.

It is too early to breathe a sigh of relief just yet. First, it is not clear how many Credit Suisse customers withdrew their money since then and how much the shock of the fall is still lingering. Observers warn this case is unlikely to be an isolated one.

There are, however, no guidelines from the supervisory authority on how banks should prevent potential liquidity risks. At the same time, Finma says that it is up to market participants to defend their own reputation, which means that in the fight against potentially harmful social media posts, financial firms are essentially on their own.

Communications departments are finding themselves on the front lines, but the importance of social media must also be understood by senior management. From a corporate perspective, social media and online platforms need to be taken just as seriously as traditional media, Haller says.

 Her experience in the field includes heading Credit Suisse's communications department for a year and a half until the end of 2015, as well as stints at industrial groups ABB and Siemens. Dynamics has no mandate from Credit Suisse.

International Conference on Communications and Media Studies 

1st Edition COMMS | 23-24 Jan 2023 | Delhi, India

 

Social Media Storms

Visit:……………https://communications-conferences.sciencefather.com

 

#MediaEthics 

#AlternativeSocialMedia

#MediaDisasterCoverage 

#SportsandMedia