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LEARNING RESOURCES

risk, technology, and cybersecurity
executives”, Nocera said.
Here are seven tactics for finance
Risk Scenarios professionals to counter the threat of
deliberately manipulated content:
Learn key risk scenarios to help plan for various threats
to organisational reputation and governance. Understand what you’re up against
Find this course in the AICPA Store and the CGMA Store. Digital disinformation campaigns can be
launched by unscrupulous governments,
COURSE organised crime, or opportunistic
scammers, according to a PwC report on
cybersecurity and fraud. They are
inexpensive, spread falsehoods easily,
and can cause considerable damage
ranging from significant financial losses
Managing Business Risks to reputational damage.
The disinformation may consist of
This course teaches about identifying and understanding fake news stories (which may be spread in
risks to reduce a business’s exposure to threats that forms that include text, audio, and video)
could damage assets and reputation.
or postings from fake social media
Find this course in the AICPA Store and the CGMA Store. accounts, as well as falsified marketing
on social media platforms and search
COURSE engines, according to the PwC report.
Another threat is deepfakes, which are
digitally altered videos or audio files that
seem realistic and are designed to spread
Managing Risk Analytics false impressions or information.
State actors are a very active part of the
This course teaches valuable analytical tools for disinformation effort. They may include
managing risks and making informed decisions. countries that want to punish or
embarrass a company with which they
Find this course in the AICPA Store and the CGMA Store. have a disagreement or seek to retaliate
against for actions or comments that are
COURSE considered hostile to the nation-state.
These efforts can be very sophisticated
— and may even be outsourced to
experienced third parties. According to
the PwC report, commercial
disinformation-as-a-service (DaaS)
purveyors are hired to spread false facts
only two out of ten were able to identify creating a reputation for buying local or on websites, news outlets, and social
the signs of a real social media post being reliable, supporting the media. (See the sidebar, “The Rise of
without making mistakes. community, or being inclusive,” said Ian Computational Propaganda”.)
Financial gain or an attempt to harm a Thomson, director of Lloyds Banking
competitor are among the motivations Group Centre for Responsible Business at Develop a robust and comprehensive
behind disinformation campaigns. the University of Birmingham in the UK. response plan
Falsehoods may be spread by activists or But while company reputations are Thomson recommended creating an early
disgruntled employees who have a “massively valuable, they can be so warning system to spot issues before or as
grievance or disagreement with a fragile”, Thomson said. “Suddenly, one soon as they arise. “There should be an
company’s investments or public political tweet can undo much or all of it. In some ongoing effort to monitor social media
position, said Joseph Nocera, partner and ways, reality doesn’t have to matter.” and other outlets so that the organisation
leader of the PwC Cyber & Privacy can learn about problems as soon as
Innovation Institute. Tactics to counter online possible,” he said. This responsibility
Disinformation campaigns that target disinformation would normally fall to the
a business’s reputation can be particularly When an entity is identifying, assessing, communications team, either a
costly. or mitigating reputational, geopolitical, designated person or a full crisis response
“You can spend generations building or financial risks that disinformation team if the organisation is big enough.
up a business, constructing a unique poses, “the finance team’s expertise can However, Thomson noted that there is a
selling proposition, building trust, be valuable in scenario planning with the case for the finance team to be involved,

10 I FM MAGAZINE I August 2022