Networking sites a goldmine for ID fraudsters

By Jennifer Hill

LONDON (Reuters) - Social networking sites are providing rich pickings for identity thieves, according to a credit reference agency.

Equifax says the rise in popularity of the likes of MySpace, Bebo, Facebook and Friends Reunited -- where people create profiles to share news and converse with friends -- is increasing the risk of fraud.

More than 16 million people are registered with Friends Reunited and an estimated 28 million are members of Facebook.

But Neil Munroe, external affairs director of Equifax, warns that the wealth of personal details displayed on these sites is a gold mine for crooks.

"Fraudsters are taking advantage of the new craze for social networking," he said.

"The problem is that people don't realise the significance of the kind of information they are putting out on the Web and who may be accessing it.

"More and more consumers are signing up to these sites every day and chances are they'll put on their date of birth, location, e-mail, job and marital status."

He said fraudsters could use information gleaned from social networking sites to steal people's identity and open financial accounts in their names.