Facebook-Is it safe?

I once read an article just a couple months back on cnn.com on how one man got emailed through facebook by his "friend" on how he was sick and needed money. Well this "friend" asked for help and needed money sent to him to this one address. The man sent the money to the address, but later found out that some other guy hacked into his friend's facebook account and emailed him. He never got his money back. Today, many teenagers and even adults have gotten facebooks like me. As far as I know, even kids that are in elementary school have facebooks. The question is though if facebook is really safe? Even though facebook has created privacy settings, it still is not very secure. Teenagers don't care about these settings that they should be paying more attention to. Instead they are inviting trouble by letting "outsiders", meaning people that they don't know, view their wall, photos, and even their personal information. The privacy settings are there for a reason. Facebook should encourage more people to pay more consideration into these privacy settings. After all, safety comes first.