The rapid growth of network services, Internet of Things devices and online users on the Internet have led to an increase in the amount of data transmitted daily. As more and more information is stored and transmitted on the Internet, cybercriminals are trying to gain access to the information to achieve their goals, whether it is to sell it on the dark web or for other malicious intent. Through thorough literature study relating to the causes and issues that are brought from the security and privacy segment of wireless networks, it is observed that there are various factors that can cause the networks to be an insecure; especially factors that revolve around cybercriminals with their growing expertise and the lack of preparation and efforts to combat them by relevant bodies. The aim of this paper is to showcase major and frequent security as well as privacy issues in wireless networks along with specialized solutions that can assist the related organizations or the public to fathom how great of an impact these challenges can bring if every related stakeholder took a step in reducing them. Through this paper it is discovered that there are many ways these challenges can be mitigated, however, the lack of implementation of privacy and security solutions is still largely present due to the absence of practical application of these solutions by responsible parties in real world scenarios.