There’s a ton of high-quality user data on Facebook. So just how much is it worth? A San Francisco Chronicle takes a look.
A Mashable article reported that SharesPost, a marketplace for shares in privately owned companies, suggested an $11.5 billion value for Facebook, versus a $1.4 billion value for Twitter. Its value is largely due to the amount of information it provides about people.

Openbook, a wesite that allows users to search for embarrassing Facebook status updates, shows the volume of people whose accounts are set to broadcast status updates to everyone. For instance, a search for “cocaine” or “drunk” in Openbook’s search field yields status updates such as “Cocaine is a man’s best friend” and “I’m so drunk right now need to go to bed.”

Next to a name, gender, and profile picture (information that Facebook requires to be public), they create an impression, which could cost you. Consider the case of Natalie Blanchard, who had to fight to have her health benefits reinstated by her employer’s insurance company. She was being treated for depression, but Manulife Financial questioned her health claim after seeing Facebook photos of her partying on the beach.

The article also suggests that some security threats are thriving on Facebook. The Koobface worm has been lurking on Facebook since 2008, growing more sophisticated with its ability to create an account, friend strangers, and join groups.

And on Memorial Day weekend, hundreds of thousands of Facebook users encountered a clickjacking worm that duped them into “liking” pages that led to the installation of malware for perpetuating the worm’s spread.

Researchers at VeriSign’s iDefense recently reported that a hacker named Kirllos claimed he had 1.5 million Facebook accounts for sale for a price of $20 to $45 per 1000 accounts, depending on the number of contacts. According to a New York Times story, Facebook said that its own investigation did not find the claim credible. Facebook did not answer an interview request for this article.

To celebrate her birthday, personal finance expert Suze Orman is offering free identity theft protection until midnight tonight (Sunday, June 6).

Suze teamed up with TrustedID for the give-away in an effort to prevent identity theft, a crime that affects as many as one in every twenty Americans risks every year. Research firm Javelin Strategy & Research reports that the instances of identity theft increased 11 percent between 2008 and 2009, indicating that Americans aren’t doing enough to protect themselves.

Sign up for your free identity theft protection subscription today at https://suzeidp.trustedid.com/.

Millions of Puerto Rican birth certificates will soon be invalidated. The Puerto Rican government is overhauling its system after raids revealed thousands of stolen birth certificates, which were used to get passports and drivers licenses in the U.S.

On July 1, Puerto Rican birth certificates will no longer be valid, and people born in this country will need to get new ones.

To find out how to get a new birth certificate, visit the Puerto Rican government site.

Enforcement of the Red Flags Rule has been delayed, according to a Federal Trade Commission (FTC) press release, until January 1, 2011. The Red Flags rule is a law that aims to reduce cases of identity theft by requiring certain businesses and organizations to verify customers’ identities before they give them credit.

The Rule was developed under the Fair and Accurate Credit Transactions Act, in which Congress directed the FTC and other agencies to develop regulations requiring “creditors” and “financial institutions” to reduce the risk of identity theft. The rule requires organizations that have “covered accounts” to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities – called “red flags” – that could indicate identity theft.

The Rule was implemented on January 1, 2008, with full compliance for all covered entities originally required by November 1, 2008. It was expected to be enforced by June 1, 2010. But now it has been further delayed.