Knowing how some scams and tax evasion schemes work I wouldn't be surprised if they could just set up a separate company that ends up with all the liability without any of the assets and just have that declare bankruptcy the moment the first fines hit. Rinse/Repeat as often as necessary.
Essential only -> Processing please wait (but you can cancel)
Customize -> Trying to trick me into allowing more, then processing as above
Accept -> Instant success
Took some screenshots since this is ridiculous (I may just not be used to the modern web since I aggressively block scripts): https://imgur.com/a/fJB0aHz
My favorite part is having to pull a bar up to decrease my consent-level.
LinkedIn is underrated as a platform to call out brands, it's where many spend a lot of their money on PR / image.
I think one reason is that we have reached a tipping point where website owners now view these banners as a signal of a "legitimate" website, without bothering to look into actual compliance.
Without enforcement, these things shouldn't exist. They are just a nuisance to everyone
Unfortunately, many people simply click on the "accept all" button and don't care about their privacy that much.
The idea of GDPR was that consumers would be hesitant upon seeing the massive amount of third parties that use your data and demand change from the providers, turns out people don't care / providers rather let privacy-oriented customers suffer than to take a hit on their advertising profits.
Unlike GDPR, which uses a website as the gate for all cookies, the ad industry also has self-regulatory programs. Participation in these programs require that a website allow a user to opt out of all ad networks present on their site. TrustArc built a module to do that: https://preferences-mgr.truste.com/.
If you run the tool there, it will make a call to the ad networks listed. Of course if you're running an ad blocker, the call will get blocked and it will look like the tool doesn't do anything.
Last time I checked, there were no requests being made client-side in the 1-2 minutes it took to cancel. It was pretty much the same number of requests for both accepting and denying. Maybe they changed it since it's too blatant.
Also, since it should be opt-in, then accepting should obviously take longer.