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Privacy Policy - Google SEO

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I have been told that having a privacy policy in the footer of your site helps improve your credability to search engines such as Google. Apparently Google will treat your site with more respect and therefore rank you better if you have a well produced privacy policy.

Is this true in any way?

Thank you
 
I've seen no proof of this myself. However if your site is one where you gather email addresses other other information about people (eCommerce, mailing list, membership etc) then it makes good sense to have one for your visitors.
 
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