A privacy policy is very important because it's an organisation's promise to the people whose personal information it processes (like customers) as to what the company is going to do with their data. Creating a privacy policy helps an organisation comply with privacy laws and avoid privacy related. fines and lawsuits. Trying to create one fast and cheap can result in non-compliance, defeating the purpose of a Privacy Policy in the first place. Discuss any FIVE (5) risks to consider when using a Privacy Policy template for a company such as ABC Solutions.