Consumer Privacy Breach Hazards and Governance

Tens of thousands of transactions of all sorts take place around the world every day, and they are inevitable because different people have different needs every day. Often, many providers require consumers to provide a range of relevant information in order to unlock access to their services. E-payments are a typical example. The mandatory requirement used by e-money platforms requires consumers to enter personal information relating to themselves in order to complete real-name authentication, and most consumers are forced to accept real-name authentication in the face of the trend towards e-payments.[1] However, not all organizations can guarantee the encryption and non-disclosure of customer privacy, especially in China, where incidents of consumer privacy being compromised are commonplace. A large number of unscrupulous organizations are profiting from the exchange of customer information through underhanded collusion. There are also a number of research gaps in the area of data leakage. With the increasing exchange of information, there is an urgent need to address how to efficiently utilize data and how to monitor data breaches worldwide.