Facebook is all about sharing content with your network. But what about outside your network? Are you sure it is just your friends and family seeing your information?
Social media sites are "hunting grounds" for identity fraudsters. All the information you need about someone can be found easily. It is very hard to hide all your information. And to the every day Facebook users the content shared, perhaps is not seen a information to withhold.
There was over 148,000 victims of identify theft in the UK last year. Of course not all of these cases will be because of lax social media privacy.
With these pressing security issues, is it the right time to launch Facebook banking in the UK? If anything went majorly wrong it would be a huge blow for Zuckerburg...
Simon Dukes, chief executive of Cifas, said: “Fraudsters are opportunists. As banks and lenders have become more adept at detecting false identities, fraudsters have focused on stealing and using genuine people’s details instead. “The likes of Facebook, Twitter, LinkedIn and other online platforms are much more than just social media sites - they are now a hunting ground for identity thieves. “We are urging people to check their privacy settings today and think twice about what they share.”