Comprehensive and Detailed In-Depth Explanation:
Encryption is a security measure that protects the confidentiality of sensitive data by converting it into an unreadable format. This directly addresses privacy risks by preventing unauthorized access to personal or confidential information.
Option A (Information integrity risk) - Integrity controls (e.g., checksums, hash functions) address this risk.
Option C (Access risk) - Managed through authentication and access controls, not encryption.
Option D (Software risk) - Related to vulnerabilities, which encryption does not directly mitigate.
Since encryption protects privacy by securing sensitive data, Option B is correct.
Reference: IIA IT Security - Data Privacy & Encryption Standards