Social networks... How to surf safely

Social networks is actually a crawling disaster with all this information passing, threats that we never thought of has emerged leading to serious problems

I was reading this article on Outpost security lab and they suggested few practices to make surfing through social networks more secure.

Best Practices:

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Use the latest browser software and install Windows Updates as soon as they become available.

Use a firewall to protect your system against unknown threats; use up-to-date antivirus to block known threats and intrusion prevention software to alert you to potentially dangerous activities on your computer.

Do not download, open or respond to content published or sent by unknown people. There has recently been a virus outbreak in the Russian portion of an SN that resulted from unwary users clicking on a reference to a fake image file that led to the activation of a virus that then wiped user data from the affected computers.

Remember that SN is still in its infancy: the engines are still immature and the platforms are vulnerable to determined attackers. Reports of faulty SN code appear regularly in the media, and you cannot rely on the integrity and non-disclosure of your personal details due to multiple weaknesses in SN systems. Cross-scripting errors (XSS) enabling attackers to view restricted sections of user data have affected almost every SN site, much like the way spyware targeted Windows systems that had not been patched with SP2 back in 2003.

The 3rd party applications (widgets) that Facebook and Myspace offer as additional downloads are even more problematic. These programs are not tested for compatibility or security defects, so be sure you understand exactly what you are installing when you choose to use one of these applications.

Don’t access your online profile from public computers – such actions are fraught with additional risk because of the potential for theft or malware compromise. Your log-in details might be stored in a local cache and later extracted and used to illegally access your profile, or the computer may be infected with keylogger that will silently capture any piece of information, including log-ins and dialog sessions, and relay this data to unauthorized third parties.

Do not disclose sensitive information ever! - A recent British survey revealed that more than half the SN users interviewed publish contact details and private details in their online profiles, making them the easy targets to ID thieves and other miscreants.

Due to the open nature of the Internet and the fact that your account can be hijacked, coupled with the vulnerabilities of SN platforms, you should NEVER publish any sensitive information about yourself, like your home address, Social Security or cell phone numbers. And don’t post anything that could backfire against you, like videos of your student parties, or anything else that you wouldn’t want a prospective employer to see.
Prevent anonymous users from viewing your profile

By making your profile private, you limit access to your online profile only to friends and people you know.
Authorize and add as friends only people you know

The smaller your inner circle of friends, the more private your online profile is.
Never trust online-only acquaintances

It’s important to keep in mind that people and their identities are not always what they claim to be, and you should not blindly trust people that you meet online. Don’t meet these people in real life except in very public, safe places, and you must strive to avoid any other physical contact with them.

You may have heard the dramatic story of a girl committing suicide after her online date supposedly let her down, whereas in fact the cheating partner was the mother of a teenager who didn’t want her son to date the girl. If she had been a little less trusting of what she read online, she would probably be alive today.
Favor sites that use encryption

Facebook, for example, encrypts your interactive sessions, whereas Myspace hasn’t yet followed suit. Encryption garbles data in transit so that no-one can read intercepted information, protecting your passwords and other information from outsiders.
Report abuse

Should you encounter cases of spam, harassment, stalking or other intrusions into your private life, you should report such incidents to the people responsible for proper conduct on the social networking site. Consult the FAQ or Contact Us section to find specific contact information.
Don’t access SNs from your workplace

Research indicates that half of the workforce access SNs during the workday, reducing productivity and distracting from work-related issues. Such activities may also be in violation of your employer’s “appropriate Internet use” policies.
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After all, nothing is totally secure. And if the information is there then someone somtime will be able to get it somehow!. Maybe I'm paranoid but who knows what can happen :D