From customer's view a disclosed online privacy would satisfy customer's concerns letting her/him know what information the company collected, what information the company may share with third parties, and how the company may secure her/his information. As mentioned above, the new online privacy of Google revealed the information that Google has been tracking customer's information. Few customers would like to be monitored all the time by Google; however, customers would be like walking on the thin ice without notice if there was no online privacy. In 1998, the United States Federal Trade Commission (FTC) reported a study of online privacy concerns to Congress. In this report, FTC described a widely-accepted Fair Information Practice Principles (FIPs) of Notice, Choice, Access, and Security1 (Landesberg et al., 1998). And FTC also defined the Enforcement principle to provide sanctions for noncompliance as a critical component of any governmental or self-regulatory program to protect online privacy.
STATEMENT OF THE PROBLEM
Significance of the Project
On March 30th 2012, Nicole Perlroth from the New York Times reported that approximately one million to three million Visa and MasterCard accounts were exposed at Global Payments. Credit card numbers as well as cardholders' personal information had been hacked when payments were processed. Nicole also mentioned this was the second breach already at Global Payments in the last twelve months. Additionally, Heartland Payment Systems disclosed a breach which caused 130 million credit card to be hacked during two years from 2007 to 2009 (Greenberg & Schwartz, 2012). …