You might have gotten a recent notification on your WhatsApp updates where you were requested to accept a new set of terms and conditions.
The policy itself requires users to share transaction data, information, IP address and data on how they can interact with businesses via owned platforms. Currently, populations like India has one of the largest userbases for WhatsApp and Facebook both amongst any other country with numbers reaching in the millions which is quite staggering.
WhatsApp aims to institutionalize data privacy and is aiming to bend the laws in which people can understand it. With introducing such a large change in act that is extremely simplistic like a simple terms and conditions update, it aims to reduce the amount of coverage the act of data privacy and theft gives.