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By manipulating the familiarity and the existence of a privacy seal, the current study examines how people process and evaluate information presented in privacy policies in online social media platforms. The results indicate that individuals heuristically process privacy information. There is a significant interaction effect between privacy seal and familiarity such that in the absence of a privacy seal individuals tend to heuristically process information when they are in a familiar platform. The results also reveal a main effect of familiarity on people's evaluation of the policy. In conclusion, the present study indicates that familiarity is a significant cue that individuals rely on when they process privacy policies and make their privacy-related decision. This study also supports future research applying Heuristic-Systematic Model (HSM) for understanding people's privacy behavior.