Final answer:
Privacy issues can cause a loss of trust in business for several reasons: data breaches, identity theft, and privacy erosion. These issues highlight the importance of businesses prioritizing privacy and implementing robust security measures to maintain the trust of their customers.
Step-by-step explanation:
Privacy issues can cause a loss of trust in business for several reasons:
- Data breaches: When businesses fail to adequately protect the personal information of their customers, it can lead to data breaches. Examples include the Target and JP Morgan data breaches mentioned earlier. These breaches expose sensitive information, such as credit card details, which erodes trust in the affected businesses.
- Identity theft: If personal information is accessed by unauthorized individuals, it can be used for identity theft, resulting in financial loss and damage to an individual's reputation. This can make people wary of sharing their information with businesses.
- Privacy erosion: With the increasing prevalence of cyber technologies, there is a growing concern about freedom from surveillance. If businesses are perceived to infringe on individuals' privacy rights through excessive data collection and surveillance, it can lead to a loss of trust.
These issues highlight the importance of businesses prioritizing privacy and implementing robust security measures to maintain the trust of their customers.