Make sure it's private, then only your friends can see it. I'm REALLY not that bothered about being stalked and all that rubbish. My life is no more important then the next person in reality, no one would want to bother to steal my name.
Just don't be stupid and put things like your Address, mobile number, E-mail, bank details etc on there. That's just idiotic.
and yes, Facebook do take action against people who lie. My friend put that she was from China on Facebook so people wouldn't stalk her etc. But it was really obvious she wasn't from China as all her friends were from where we lived, and the pictures she loaded onto it was blatantly nowhere near China. They blocked her account until she changed it.