I agree that customer data needs to be protected, but it is bold to assume that is the case at all with these powerful corporate entities: if they lie to the state when filing taxes what makes you believe they are ernest when it comes to the protection of their users privacy?
Maybe it is a weird ideology I am holding here, but the more powerful an entity is, the more transparent it should become — nowaday we got this completely reversed with poor people being naked in front of the state and big corps literally fooling everyone.
Edit: some also seem to think the state is the behemoth that jumps on the poor little companies here. To that I just have to think about the account of the German public prosecutor Bäumler-Hösl (of wirecard fame) where she told about a raid on a bank where she and 4 collegues were opposed by 130 (!) company lawyers.