Facebook IPO: It's Not About Stocks at All, as Private User Information is Leaked

Approximately 100 million Facebook users learned that a Facebook "IPO" may not be an initial public offering after all. These are the individuals whose personal data was published online, bringing forth a new type of IPO, an "internet public offering" of personal data. This is one of the many reasons I don't use Facebook, and it's an alarming occurrence considering that the information wasn't even obtained during a hack. It was all legally published!

A Skull Security consultant scanned the listings in Facebook's open-access directory, scraping out information on users and placed it into a .txt file. These types of files can be opened by virtually any PC using Notepad. The information uncovered includes email addresses, phone numbers, and even birth days of users. Before you get upset at Facebook for making the information widely available, it's not the social networking site's fault. Users can opt to make their information private, and if they fail to do so, it's not anyone's fault but their own.

Why is this bad?

So what? Some dude scanned the Facebook directory and compiled a list of user data. Does this even matter? YES! It does! This information could be used to steal identities. People who download the .txt file likely do so for criminal reasons. Ask yourself this - would you want to scroll through and glance through millions of users data?

In addition to identity theft, stalkers could also use this database to "hunt down" their targets. If you want to go out on a limb, you could even say that publishing the list threatens the lives of the Facebook users.

What can I do to avoid being part of the Facebook "IPO"?

Don't want to be part of this IPO (internet public offering of private information)? There's a way that you can go into your Facebook account and change your privacy settings. Go to "account" and then "privacy settings." From there, un-check the "enable public search" box.

Then, you can go into your privacy settings and edit your account settings, giving only desired individuals access to things like photos, comments, and blog posts.

What does Facebook have to say about this?

According to Fox News, Facebook says the following of the release of public information: "information that people have agreed to make public was collected by a single researcher ... no private data is available or has been compromised."

When using a social networking site such as Facebook, you should use discretion when entering in certain private information. In addition, parents should monitor their children to ensure that they are not unintentionally placing very tender private data within their Facebook page.

Source:
Fox News: 100 Million Facebook Users Learn True Meaning of Going Public