Definition of privacy
Privacy, in short, is the right to be free from interference or intrusion — the ability to be left alone without being watched. Information privacy refers to the right to have control over how your personal information and data are collected, stored, and used. Privacy policies are in place to protect sensitive information and safeguard your identity. Privacy is often about using sensitive information responsibly. Organizations are required to be transparent about what forms of data they intend to collect, the purpose of the data collection, and where and with whom it is to be shared. As the user, you have to accept these terms and conditions; therefore, you have the right to control your shared information.
Importance of data privacy
Privacy is one of the most important consumer protection issues as technology continues to expand, more information is digitalized, and more measures exist to collect data. Businesses and apps often store data, such as this information:
- Name
- Birthdate
- Address
- Phone number
- Credit card or bank details
- Information on health and activities
This data can be vulnerable to cybercriminals for the purposes of identity theft. Nearly 5 million fraud and identity theft reports were received by the Federal Trade Commission (FTC) in 2020, and close to half of all American adults were victims of financial identity theft. Information privacy is vital to keeping users safe from hackers and cybercrime involving the theft of personal information.