That’s because these conditions are prompted by U.S. consumer protection regulations governing banking activity, which is which PayPal provides by holding peoples’ money and issuing payments.
It was clearly stated in the notice.
The 9/11 terrorist attack resulted in a new wave of U.S. legislation that sought to counteract criminal activity from the financial side as well, involving foreign financial ties, money laundering, etc. Simply opening a bank account was no longer so simple; the U.S. government wanted to know opens accounts, verify their identity, and requires financial institutions to monitor and report activity that may be suspicious. It’s a duty of both the institutions and individuals working for them (including annual training).
The same analogue took place with air travel—proof of ID, tracking, and background databases/no fly lists.
While there is much data collection these big internet companies do by their own choice, there is also some that is compulsory. As an EU resident, I’m sure you’re aware of the reach that government can have.
