I see a lot of people below arguing that this isn’t the fault of the EU policy but the companies. I think that’s being overly charitable to the policy. While you can be rightly upset with the companies behavior, ultimately policy has to work with the incentives it creates. The policy in its current form allows for meeting requirements with annoying cookie banner opt-outs while keeping the lucrative business of tracking. If we don’t want that, the policy should be changed. Don’t expect companies to go against their interests here, even if some will actually be thoughtful and find a way to do so. The “Purpose Of a System Is What It Does” principle applies, and the purpose of the EU policy seems to be cookie banners for most sites.
I’ve long believed that making companies liable for paying damages if PII is leaked in a data breach would be the best way to stop excessive tracking. If you force them to have to manage user data like they’re handling radioactive waste then the expense and overhead involved is a natural drag on the business logic that drives the bottomless appetite for data collection. They’ll collect it if they actually need it, and they’ll take great pains to secure it.
The most valuable data breach content isn’t your advertising tracking data, though.
It would be your payment information, which is orthogonal to most of the tracking data.
The black market demand for leaked advertising-related tracking data is basically nil, except maybe in cases where it’s related to something else exploitable or usable for blackmail like if someone frequents cryptocurrency exchanges or porn sites. Nobody cares to pay for black market data about you shopping for towels on Amazon or things like that.
Payment data doesn't live in a vacuum though. Every payment is authorised by your bank, who runs an AI looking for "suspicious transactions" and has a legal obligation to refund you if you lose money because any part of their payment network got hacked.
99% percent of them intentionally turn the "decline" choice into a 5 - 10 step game of dark patterns even though the EU policy says it should be equally easy to decline. They know its bullshit but they also know the chance that someone will drag them through court is low.
