Final answer:
Cookies pose risks such as tracking user preferences, behavioral targeting, and compromising online privacy and security, by collecting data often used for advertising and potentially leading to data breaches.
Step-by-step explanation:
Three privacy risks associated with cookies are User Preferences Tracking, Behavioral Targeting, and the ability to compromise Online Privacy and Security. These cookies can track and store user behavior and preferences, potentially leading to unwanted targeted advertising and profiling. Moreover, they can be a part of larger security issues, especially when data breaches occur at large companies, risking personal information by falling into the wrong hands.