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Widespread deployment of RFID system across many applications creates a very good impact on users and it also simplifies a lot of business transactions. However, this situation may potentially impose security and privacy threats. We noted that previous RFID protocols provide solutions for security and privacy in silo and they usually focus more on security components as compared to privacy. We vide that the existing situation is not balanced and hence our approach in tackling it is unique because we propose an overall approach that considers security, trust and privacy (STP) together. We propose to use lightweight based encryption subsystem to handle security, trusted computing based subsystem to provide trust and integrity verifications and privacy enhanced system (anonymizer) to solve privacy issues for RFID system. This paper reviews previous works on RFID protocols and highlights the importance of RFID system with STP subsystems.