Though you may use social networking websites to update your friends and family about the goings on in your life, you may be putting your identity at risk when you post personal information on your Facebook page or Twitter account, according to a recent survey by security company ID Analytics.

"People do not realize how they are exposing their identities and potentially sensitive financial information to fraud.sters on social networking sites such as Facebook," said chief privacy officer for ID analytics Thomas Oscherwitz. "Consumers should realize that social networking sites provide fraud.sters with a plethora of information that is ripe for the taking and take steps to protect themselves.

According to the study, approximately 20 million U.S. citizens post their pets' names on a social network site. This may seem like a harmless choice, but many financial institutions use a pet's name as a security question.

The research also revealed that people between the ages of 18 and 34 are more likely to reveal personal information online than older generations.

According to the Federal Trade Commission, there are around 9 million cases of ID theft every year in the U.S. To protect personal information when shopping online, some may use a secure payment service.