Social networking sites are increasingly becoming one of the most popular businesses on the Internet. However, how often do you think that your Facebook site is dangerous to your identity. According to the US Department of Justice, approximately 11.7 million Americans were victims of identity theft in 2010 (US Department of Justice). Identity theft is defined as a crime in which someone illegally acquires and uses another person's vital information to deceive and gain personal gain. That same year, the Federal Trade Commission reported that identity theft crimes cost businesses and individuals approximately $53 billion (Federal Trade Commission). Most Americans are familiar with identity theft, but are not well informed about the influence it has on the economy as well as individuals. If potential victims are better informed about how social networking sites put our identities at risk, the effects identity theft has on its victims, and ways to prevent identity theft while using a social site network. Losing your private information can perhaps be the worst thing to ever happen or, for some, the greatest act of carelessness displayed. The average person would probably panic and hope that no one is exploiting their misplaced information. Well, social networking sites can cause just that without you even knowing it. While there are numerous ways you can gain an identity, social networks seem to be the most effective. The Federal Trade Commission and the Better Business Bureau have completed a report on the most common ways an individual's identity can be stolen. This report states that while lost or stolen wallet is the most common way, occurring more than 28.8% of the time, it is not the only way to bounce your card. It." Identity theft protection laws are limited, so take action and defend yourself. Works Cited Cornell University Law School. Legal Information Institute. March 15, 2011. http://www.law.cornell.edu/search/index .htmlHoffman, Sandra K. and Tracey G. Mc Ginely. Identity Theft: A Reference Book. Santa Barbra, California: ABG – CLIO, Identity Theft Deterrence Act of 2010. United States Federal Trade Commission. February 30, 2011. http://www.ftc.gov/os/statues/itada/itadact.htmIdentity Theft and Identity Fraud. February 14, 2011. http://www.justice.gov/criminal/fraud/websites/idtheft.htmlKatel, Peter. “Identity Theft.” Researcher June 10, 2005: 517-40. February 15, 2011. Lexis Nexis Academic and Library Solutions. March 15, 2011. Vacca, John R. Identity Theft 2003