Congressman Anthony Weiner’s well-documented recent scandal provides ample proof of the potential lack of privacy in social media (especially when mixed with unhealthy doses of impropriety and narcissism)

That unfortunate episode aside, one need look no further than Facebook to see how quickly and easily an innocent status update can morph into a breach of privacy of some sort.

Then, consider the implications for those in the highly regulated medical and pharma industries— and the potential costs and calamities are multiplied exponentially.

As one accumulates more and more friends and followers— sometimes on the basis of knowing someone by their first name from work or a social organization— a tagged photo containing any number of people or situations is presented to, let’s face it, hundreds of casual friends, coworkers, clients or near strangers.

And there’s the rub. Social media are a great way of expanding networks of friends and contacts quickly. Yet with that expansion comes increasing complexity and responsibility.

What percentage of Facebook and Twitter users co-mingle work and personal contacts, not to mention work and personal information? My guess is, it’s very high.

Let’s say you’re working on a new drug launch and grouse on your Facebook page about your hours or something someone said at work, revealing something proprietary—or you’re chatting with a friend or coworker and somehow, even accidentally, the text of said chat gets forwarded to one of their friends or contacts.

However slight, the potential for far-reaching disaster lurks.

Social media companies can safeguard passwords. But the services themselves, by their very nature, can be a minefield in terms of protecting a measure of privacy.

Social media encourage us to share, and as the media themselves expand the ways in which they can be used, we are presented with more ways to share (some we often use unwittingly):  status updates, likes, dislikes, fan pages, politics and religion, tagged photos, tweets. Re-tweets. Direct messages. Chats. Link/friend/follow requests. Introductions.

But where and how do we draw the line? Here are a few suggestions to consider for protecting privacy.

Don’t Forget Your Privacy Settings

Facebook and MySpace, for example, provide safeguards and limits that allow users to restrict access to some or all of their information, from some or all viewers. These are worth investigating and using.

Consider Separate Accounts

Another option is to create separate work and personal accounts. Sometimes work and personal don’t always mix.

In an insightful piece written recently for the Huffington Post, actor Alec Baldwin comments on how social media often allows people to develop and carry on relationships that a decade or more ago always took place in person. Social media have somewhat stripped away the obvious filter of:  that’s not something I should do or say in this situation or in mixed company.”

There don’t seem to be as many or as immediate consequences when something is done or said online. But as Weiner’s and so many other cases (most less sordid and less publicized) recently prove, there are consequences nonetheless.

Ask an Important Question

Another good rule for sharing information on social networks is: “would I share this openly— in person— among a group of friends or co-workers?”

“Would I want them sharing it, in turn, with my employer, my spouse (or my ex), or strangers—like someone who works at the FDA— or my competitors?”

Companies can create social media guidelines for their employees. Employees, for their part, should abide by these— as they should provide a measure of boundary and protection for their personal information as well.

But as with anything, enjoy, but tread softly and carefully.