Banks grapple with social media risk

In shadow of Metro Bank WhatsApp episode, panellists warn banks need to deftly handle social media blow-ups

Metro Bank’s share price plunged after false rumours about its financial health spread on WhatsApp

Just last weekend, Metro Bank was besieged by depositors lining up at its branches to pull out cash and empty safety deposit boxes. Why? A WhatsApp message had claimed the bank was “facing a lot of financial difficulties and may be shut down”. The unsubstantiated message took off like a shot through social media.

Metro Bank responded via Twitter, categorically denying the allegations and trying to reassure its depositors by pointing to its latest financial statement, which showed profits and