Generative Artificial Intelligence (AI) has rapidly become a mainstream technology capable of autonomously producing realistic and diverse media content, including text, images, video, music, and code. As models like GPT, DALL·E, and Stable Diffusion transform industries such as entertainment, marketing, education, and software development, they also introduce a complex landscape of security and privacy risks. This chapter, per the authors, explores critical vulnerabilities such as prompt injection, adversarial attacks, data poisoning, and model inversion, which can lead to unethical outputs and exposure of sensitive training data. It further examines threats arising from large-scale data scraping, copyright violations, and lack of user consent, while also addressing ethical issues tied to misinformation, deepfakes, and surveillance. The chapter reviews technical safeguards including differential privacy, federated learning, watermarking, adversarial training, and secure deployment methods like sandboxing and real-time monitoring.