Networking sites give away too much info

LOSSES & LAWSUITS

"Social networking sites can be a fun way to communicate, but users have to avoid giving away too much personal information," she says. "Your Facebook account can come back to haunt you."

Networking sites often contain a large amount of personal information such as date of birth, hometown, phone numbers and email addresses. This is a valuable hoard for online criminals, who can use this type of information to gain access to online bank accounts, as these often have security questions that require answers to such things as a pet's name or mother's maiden name.

In other situations, fraudsters can start other online accounts using the personal information found on a social networking account. Inviting a person to be your new friend on any social networking site may be a security risk, warned Pasacreta.