Many online social network (OSN) users are unaware of the numerous securityrisks that exist in these networks, including privacy violations, identitytheft, and sexual harassment, just to mention a few. According to recentstudies, many online social network users readily expose personal and privatedetails about themselves, such as relationship status, date of birth, schoolname, email address, phone number, and even home address. This information, iffallen into the wrong hands, can be used to harm users, both in the virtual andin the real world. These risks become even more severe when the users arechildren. In this paper we present a thorough review of the different securityand privacy risks which threaten the well-being of OSN users in general, andchildren in particular. In addition, we present an overview of existingsolutions that can provide better protection, security, and privacy for OSNusers. Moreover, we offer simple-to-implement recommendations for OSN userswhich can assist them in improving their security and privacy when using theseplatforms. We conclude this paper by suggesting future research directions.