Page 129 - Finanancial Management_2022

especially those who undertake or
supervise reporting or investor or The rise of computational propaganda
stakeholder engagement activities within A 2020 Oxford Internet Institute report found evidence in 48 of the 81 countries
the organisation, as it can help shape any studied that state actors were working with private companies or strategic
discussions or the content of future communication firms that provide social media manipulation campaigns
reports. called “computational propaganda”. These campaigns use algorithms,
Proactive efforts will serve the automation, and big data to shape opinion, and the report said manipulation
organisation well when a crisis occurs. continues to be “a pervasive part of public life across all regime types”.
“You don’t want to be making it up on the
fly,” Nocera said. Instead, businesses
should brainstorm potential scenarios
and plan the best responses to each one, corruption in awarding a contract, for there is no such study,” Thomson said. In
perhaps even practising them in a example. It may learn after some digging other cases, the material being cited may
tabletop exercise. “This gives you a that while nothing illegal occurred, some be seriously out of date. A fuller picture of
chance to work out the kinks and practise corners may have been cut or there may the source and their motivations can help
communications and decision-making,” have been compliance lapses. Armed with the company justify and support its own
he said. the facts, the company can now decide case.
For each scenario, the point will be to how to frame its response, Thomson said. When investigating these sources,
consider the direct or indirect financial This is another aspect where the finance domain registration details, which may
cost and any potential impact on share team’s knowledge can help pinpoint areas include contact information and other
price. to investigate and determine the extent details about the site owner, are one
and potential impact of any issues. potential way to spot a bad actor,
Rely on professionals when making “It’s the cover-up that kills you,” according to a study conducted by
official statements Thomson added. professors from University College
Most entities require all employees to go London and two US universities. Limited
through company spokespeople and not Help stop the damage registration details — such as the use of a
make official statements without advice If a disinformation campaign affects the holding company, corporate entity, or LLC
from the communications team. Dealing company’s stock price or causes other rather than a person’s name — can point
with disinformation is a skill, and those financial damage, the company should to a potential fake news site, the study
without experience in this area easily make official disclosures and corrections found.
misspeak, Thomson said. “Public as quickly as possible to limit any
communications need to be skilfully and negative impact, Thomson said. Working Evaluate the actual damage
professionally handled,” he said. with the advice of internal media While it may seem that a negative report
Meanwhile, finance leaders can better professionals, finance can play an has spread everywhere, Thomson noted
educate themselves on threats by getting important role. that social media can be an echo
to know others in the company who are The finance executive may be called on chamber. “You may think everyone
monitoring those dangers, Nocera said, to help prepare the CEO to speak publicly knows, but the disinformation may have
such as teams involved in monitoring of about the impact or to participate in a only been retweeted among a group that
media and social media. This will help press conference, offering details to thinks all business is evil, for example,”
finance team members get up to speed debunk the falsehoods, Nocera noted. he said. Instead of engaging with a group
quickly when an incident does occur. “The finance team has credibility, and whose minds may be tough to change, it
In the past, many believed that they’re known for following professional may be a better idea to use social media or
ignoring falsehoods might make them ethics,” he said. “They are considered the other channels to reinforce positive
fade away more quickly. Today, the rapid fact checkers,” so their statements on messages about the company with a
spread and impact of damaging financial issues should carry weight. wider audience. ■
disinformation call for a response. If not,
“the company can become a toxic brand”, Seek out the source
Thomson said. Thomson recommended identifying the
Also, a lawsuit may sound like the best source of the disinformation as part of
remedy, but it can take years to resolve. the response effort. Find out who spread
“You don’t want to win a case after the it, what organisations or groups they may
company fails,” he said. be associated with, who funds those
groups, where they post, and what else
Get the facts first they have published or said in the past. Anita Dennis is a freelance financial
Thomson advised gathering all the details Also look for any potential corroboration writer based in the US. To comment
about the company’s actual actions before of their accusations and the sources on this article or to suggest an
making any statement about even the involved. idea for another article, email
most outlandish disinformation. “Someone might attribute something fm-magazine@aicpa-cima.com.
Consider a company accused of to a Harvard study, but then you find out

FM-MAGAZINE.COM August 2022 I FM MAGAZINE I 11