Financial transaction

Financial privacy: – here personal information about an individual’s financial status and any financial transaction is protected. It is usually aimed at curbing down frauds or to identify theft occurrence. Search information at times reveals a lot of details about a person like his salary, and his expenditures. Many financial companies have been accused of giving financial information about their customers to non financial companies for marketing purpose, an issue that they have denied.

Financial institution should not give out any information with out their customer consents unless the person is suspected to be engaged in a dirty business, committing crime or a terrorist. Internet Privacy: – it can be defined as the ability of an individual to control the information about him on the internet, and to determine who will access the information. It includes the ability of a third party to read a message without the owners consent. The users of internet can have increased their privacy levels by avoiding disclosing their personal information.

Internet privacy can be achieved by refusing to give a third party the ability of creating a link between to your personal information. The people dealing with internet privacy have given a number of events that can make internet privacy to be compromised, the reasons varies from statistics gathering about users, to acts which are malicious like spreading computer viruses and computer spy ware. Some social networking has put in place some privacy measures to protect their users.

Good example is on face book where there is some private setting for all the registered users. (Blomstrom. Eta’l’ 2004 page 74) Medical Privacy: – this allows an individual to keep records about their health from being revealed to some other people. The main reason of doing this is the fear that dissipation of their health records may interfere with their employment or their insurance cover. Health records may also reveal some details about an individual’s life. (Blomstrom. Eta’l’ 2004 page 74)

Sexual privacy: – this hinders an individual from a forced pregnancy and it empowers her to use contraceptive The Impact The impacts of breach of individual information privacy are usually great. Some examples are: A survey done in Canada showed that amongst the people who are not employed over sixty percent of them volunteered their health information to the statistics department. The information might have been hacked from the statistics department by the potential employer that is why they ended up being jobless.

Their health records might have been accessed. Information privacy has to be maintained because the victims of this incidence felt humiliated. It can make an individual to be dismissed from job, incase an employer gets to know that the individual is suffering from incurable disease, the individual may be dismissed. The victims of information privacy have also ended up being discriminated and have suffered economic harm. (Philips. 1996) There is need for people to maintain their information privacy.

This can be achieved through the following ways: the public should be made aware of the important of information privacy, more information and privacy law in general has to be legislated, all the companies will have to protect their consumer by keeping secret the information given to them by the consumers. Conclusion For privacy to survive in this age of advanced technology, people and companies will have to lay down how much information about themselves are to go public. With the rise in the number of terrorist attacks many countries in the world have really struggle to balance civil liberties and security interest.

Reference Agra. P &. Rotenberg. M 1999, “The new landscape-Privacy and Technology” Dian Publisher page 44 -48 Blomstrom. M. & Sjoholm . F. 2004 “The spillover of new technology” Oxford press page 73 Philip B. 1996, “Technology advancement has contributed increase in Computer crime” during public address in Ontario, Canada Privacy Policy 2007 Retrieved from Canadian Commissioner or Privacy. com on 29th 2008. Robert. P. 2006 “Net Worked World’s effect on Privacy” Macmillan Publisher page 3. Williamson. D. 2005, “Privacy has a Human right” journal of human rights vol. 2, 3rd issue page 23 -55