Location-based services (LBS) are those applications that utilize the position of an end-user, animal, or thing based on a given device (handheld, wearable, or implanted), for a particular purpose. This article uses scenario planning to identify the possible risks related to location-based services in the context of security and privacy. The original contribution of this article is that the dilemma has been related specifically to LBS, under the privacy-security dichotomy. Here, each side of the dichotomy is divided into three key components that combine to greatly magnify risk. Removing one or more components for each set decreases the privacy or security risk. Where more elements are present in conjunction, the risk is increased.