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Why is customer privacy concern a growing problem in this society?

As the world is headed towards high tech age where most of the people are dependent on
digital technologies, the value of digital advertising was estimated to be at 300 billion dollars in the year
2020, thanks to our data. However, customers need to be aware of their privacy constantly because of
these following reasons.

Consumers are using their smart phones or some other electronic devices to purchase their
goods online. In order to get through this process, they must present their personal information such as
their addresses, phone numbers, and even their financial data to strangers, in other words companies.
Imagine living in a society of the novel 1984 by George Orwell, where there is no privacy. Therefore,
because personal information is valuable for every one of us, we are currently in an era where our
information is at risk.

Because customer information is extremely important, it can be in great danger when used by
wrong hands. There is a growing number of incidents related to identity theft and financial fraud.
Statistically, there has been approximately three hundred thousand phishing attacks reported to the FBI
in the year 2022. These acts of cybercrime can lead to loss of money, intellectual property, and even can
have damage to personal reputation. It is important to be informative on this issue accordingly.

In conclusion, to solve this problem out, there can be solutions suggested to both corporates and
consumers. First, for the corporates it is necessary for them to make sure their network security is secure
by using firewalls in their system. Second, customers must be more cautious when giving out their
personal information. With these solutions, the world can be a reliable place to live in.

Citations (MLA format):

Anant, Venky, et al. “The Consumer-Data Opportunity and the Privacy Imperative.” McKinsey
& Company, McKinsey & Company, 27 Apr. 2020, www.mckinsey.com/capabilities/risk-
and-resilience/our-insights/the-consumer-data-opportunity-and-the-privacy-imperative.

Fick, Ryan. “Top 5 Reasons Why Consumer Data Privacy Is Important.” Attention Insight, 9
Feb. 2023, attentioninsight.com/why-is-consumer-data-privacy-important/.

Gillis, Alexander S., and Ben Lutkevich. “What Is Consumer Privacy?: Definition from
TechTarget.” Data Management, TechTarget, 8 Aug. 2023,
www.techtarget.com/searchdatamanagement/definition/consumer-privacy.

Novicic, Sara. “Solutions for Customer Data & Privacy Concerns.” Agility CMS, Agility CMS,
10 Mar. 2022, agilitycms.com/resources/posts/data-and-privacy-concerns-among-
customers-solutions.