How social media can be bad for you financially
The first thing that comes to mind is the case of Larry Johnson, the Kansas City Chiefs football player who was fined USD213,000, then lost his job when he wrote homophobic entries on Twitter.
Potential employers should always be assumed to be constantly googling jobseekers’ names. If they see something about you that puts you in a bad light, it could cost you your present job, or the job you’re after.
Debt collectors is now using social media to track down debtors, if they can’t get you through the usual channels. Example: they can use social media to say: hey, you said you can’t afford to pay back USD100 monthly, then how come that 50″ LCD TV is in your living room?
Scammers would scour social media sites for personal information lying around that they can use to take advantage of unsuspecting victims.
Source
Yahoo Finance, 28 Jan 2010
