Create a 8 pages page paper that discusses a company’s obligations to protect customer information. People are making purchases online, making transactions through net banking and playing the share market through the net. The net is being used for every conceivable financial, social and cultural interaction. Every time there is an online interaction or an online transaction the consumer has to divulge some information to the business that he or she is dealing with. In certain financial sectors such as banking and insurance, very sensitive consumer information is handled and stored by businesses. As the computer and the Internet become ubiquitous the volume of such sensitive consumer information increases at a very rapid pace. Proper safeguard of this sensitive consumer information is an issue that is gaining increasing importance. If such information is used arbitrarily or falls into the wrong hands, it could result in very drastic consequences for the consumer.