One of the most important phenomena in today's way of life is the emergence and development of social networks and the privacy measures companies take in order to protect the data. Social networks allow users to meet new individuals from either part of the globe without the need for actual physical contact. Users are often not aware of to whom all this information is available. Unfortunately, this data is being misused, and in this thesis the author will write about the awareness of Internet privacy, with a focus on generation Y. Author will Investigate how important the security and privacy of data on social networks and whether they take protection or prevention measures is the main goal of this thesis. Content comparison and analysis methods were used. As for the primary data sources, the author will use the Google forms tool anonymous web survey with respondents. The survey will be posted on Facebook and on the web forum and on that the way the respondents were found. The questions are about security, how often they change passwords on social networks, whether they accept strangers as friends on the networks, whether they have an antivirus program and how they feel about their data used for company strategy. As for secondary data sources there are used books, scientific articles and online resources. The literature of domestic and foreign sources and the data were interpreted independently by the author. The Author's goal is to provide the reader an insight into the awareness of Generation Y and their understanding of internet privacy along with data collection and GDPR. Another goal is to differentiate the perspective of generations and their understanding of internet privacy, their differences and what do those differences mean, along with data that shows which generation is more susceptible to internet privacy violations.