I like how that fallacy can be exposed by just inverting it.

"Nothing to fear, nothing to hide."

I fear you. With or without you snooping around me. By definition there's a power imbalance in our relationship, so even if I didn't fear you, I should. And I fear what you can do once you allow yourself to spy on me.

I have every reason to have fear. I will hide as much and for as long as I can. Because I can.

that's actually a pretty good counter argument.