As global social media use soars, financial criminals of all varieties increasingly leave digital evidence of fraud, insider trading, money laundering, corruption and other financial crimes in tweets and other online posts.
Capturing that evidence and using it for investigations and to build cases poses a challenge to regulators, enforcement agents and private sector risk and compliance officials. Investigators and prosecutors seeking to exploit social media evidence have been forced to contend with the ephemeral nature of the data and the uncertain boundaries between online speech and privacy rights.
In a case that vividly illustrates the tension between privacy and the rising demand for personal data by government agencies around the world, Twitter for the first time this month invoked the “country withheld content” clause in its terms of service. It did so by blocking users in Germany from accessing the account of the neo-Nazi group, Besseres Hanover.