In this paper, we propose a MIMO precoding transceiver to achieve data secrecy at the physical layer. The proposed system exploits the Restricted Isometry Property (RIP) widely used in compressive sensing to encrypt the data. Because the channels at the legitimate receiver and the eavesdropper are inherently different, the corresponding sensing matrices are different. Thus the eavesdropper cannot decode the data successfully. More specifically, when full channel state information (CSI) at the legitimate receiver is known to the transmitter, the proposed precoder can simultaneously maximize receive SNR and attain secrecy. Simulation results corroborate theoretical results, and show that the proposed system enjoys different advantages when different recovery algorithms are used.