Social networking sites like Twitter, Facebook and LinkedIn have entered the mainstream — and fraudsters are taking notice. In recent months, Fox News Network, CNN Anchor Rick Sanchez, and even President Obama have suffered high-profile hacks of their Twitter accounts. Public figures like Bill Gates and Economist Paul Krugman have seen impersonators create Twitter accounts in their name. Identity thieves have taken over Facebook user accounts and used them as launching pads for fraud scams and phishing attacks. And this is only the tip of the iceberg.

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