Fake money, squared

“India’s Central Bank: Faux Coins? Fake News!,” The Wall Street Journal, April 27, 2018 A16.  Central Bank tries to quash rumors on social media that certain coins (introduced to replace paper money) are counterfeit.

How can you respond to fake news?  Normal controls don’t work, as it is “challenging” to shut down social media channels.  But the government has an interest in protecting the reputation and value of its currency.

I guess I’d file this under (a) Governance (How can you control (i) rumors and/or (ii) social media?) and (b) Information (How do you deal with false information? What’s the (negative) value of false information?).  Other suggestions?

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Filed under Accuracy, Communications, Controls, Data quality, Duty, Governance, Government, Information, Protect assets, Third parties, To report, Value

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