A story is told of Dr. Umah Ukpai and a relation who went to buy something for him. Upon bringing the change, the relation swore by God that he was being truthful, otherwise he should die. Truly, he fell down and died. Dr Umah had to scramble to interfere against the spirit of death by calling him back to life. That fellow will have a better understanding of this very command. Scholars are divided as to whether the rendering is taking the name in falsehood or in vanity is referred to here. We think its both because of what Jesus said (Mat 5:33-34). Swearing in the name of the Lord falsely is called perjury in law. It attracts punishment in human law and in the realm of the spirit. Some think it also carries that the Name should not be used in interjections and curses. Whatever the situation, the name of the Lord was to be revered. The understanding is that a name is a reflection of a persons character. This verse touches on our respect or lack of it towards the God we serve. The treatment of Gods name also bears deep implications for preachers who speak on Gods behalf. What is Gods name to you?
Thou shalt not take the name of the Lord thy God in vain; for the Lord will not hold him guiltless that taketh his name in vain. Exodus 20:7 KJV