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As speculation of privacy settings loom on Facebook, will users' be leery of sharing personal information ?

For the ones who are concerned with identity theft while visiting social media outlets online now may have their fears validated with the latest news presented by Facebook. The personal accounts of 100 million Facebook patrons have been collected, and published online in a downloadable file, dismissing the opportunity of making public information private.

Spokespeople from Facebook denounces the allegations, stating that no private data has been compromised. Online security consultant, Ron bowes from the Internet site Pirate Bay concludes otherwise. Bowes used code to scan the 500 million Facebook profiles for information not hidden by privacy settings. The resulting file, which allows people to perform searches of various different types, has been downloaded by several thousand people.

These discoveries conclude that if anyone on that list decides to change their privacy setting on Facebook, Bowes and those who have the file will still be able access information that was public when it was updated.

Bowes’ discoveries also conclude that people who had set their privacy setting so their names did not appear in Facebook’s search system can now be found if they were friends with anyone whose name was searchable.

Facebook privacy setting states: “People who use Facebook own their information and have the right to share only what they want, with whom they want, and when they want.” With the magnitude of Facebook use and the popularity of other social media sites, do Bowes discoveries even matter?

What do you think ? Should additional methods be presented to secure personal contacted shared online? Will these latest allegations from Facebook make you a bit leery on providing what you did last weekend? Be sure continue reading coverage at Msnbc.msn.com.

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