Based on our results, we found that consent notices in their current form do not effectively inform people about the risks and benefits of data processing. Specifically, while many participants were able to identify the risk of ‘intrusion into my privacy’ in the context of all three processing purposes, they struggled to accurately identify other risks such as ‘unequal treatment’ or ‘influencing my decisions’. Similarly, participants had difficulty identifying the benefits of the processing purposes, suggesting that data controllers could do a better job of convincing users of the advantages of allowing certain processing purposes, especially those that pose low risks.