The Internet of Things (IoT) contains intelligent objects that are comprised with various types of sensors, networks, electronics devices and process technologies that are integrated and work altogether, where the effective and intelligent services are provided to the users. Smart Cities have been proposed as a solution to urban problems, where the people of that city can live with more comfortable by using the innovative technology. The purpose of this paper is to provide thorough analysis of IoT technology, with major focus on privacy and security risks, attacks surfaces, vulnerabilities. Although the researchers are conducting studies on the services offered and challenges of IoT to make the Smart Cities effective. There is still some space between theory and practical of using Information and Communication Technology, (ICT). In order to highlight the basic requirements and concerns of users in the area of security and privacy, the requirements and problems of IoT users have been defined. In order to conduct this IoT privacy and security study, a systematic literature review is conducted using electronic databases and other sources to search for all articles that met specific criteria, enter information about each research into a personal database, and then create summary tables. Body of research. Consequently, the paper summarizes recent advances in IoT privacy and security, highlights outstanding issues, and suggests topics for further research.