The European Commission is waving a big stick at Internet companies such as Google, Facebook and Microsoft and threatening to crack down on consumer profiling by online advertisers on the supposition that "basic rights in terms of transparency, control and risk are being violated."

In a speech Tuesday, Consumer Affairs Commissioner Meglena Kuneva called the World Wide Web the World Wild West - a veritable cookie monster, as it were.

She said that "If we fail to see an adequate response to consumers' concerns on the issue of data collection and profiling, as a regulator, we will not shy away from our duties nor wait for a cataclysm to wake is up."

The EC is starting a probe. It's concerned about what's being collected and how it's being used. It's particularly interested in the deep-packet inspection (DPI) widgetry that tracks online activity and monitors for browsing patterns.