It Was Only A Matter of Time: Social Networks Highly Dangerous

The 2010 Javelin Strategy & Research Identity Fraud Survey Report, co-sponsored by ITAC, warned that social networking sites are quickly becoming a potential source of information for identity thieves. A report today confirms that consumers of all ages don’t understand how vulnerable they are when they participate in online social networks. In a report today on a study from Consumer Reports states that 52 percent of social-network users post their full birth date, home addresses, vacation plans or other personal information that could increase their risk of becoming victims of identity theft or other computer crimes.

The survey of 2,000 online households in January found that 38 percent posted the month, date and year of their birth, 8 percent posted their home address, and 3 percent posted details about when they were away from home. Also, 21 percent posted photos of their children and 13 percent posted their children’s names. It was also reported that Americans have lost $4.5 billion to computer-related crime in the past two years. And, on top of that 9 percent of social network users experienced malware infections, scams, identity theft, harassment or other forms of online abuse.

In April, we advised parents to caution children sites like Facebook and Twitter to give them a “DO NOT POST” list of information like SSNs, DOB, street address and mother’s maiden name.

We encourage everyone involved in fighting fraud and identity theft to get to word out to their clients and customers – check your privacy settings and think twice when sharing personal information. It is a dangerous open frontier out there and you are as vulnerable as a bunny rabbit running through a pack of wolves.

Check out this web cast from Consumer Reports on this new report:
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