what are the Differences between sharing settings (Sharepoint admin center>>Site Collection>>Sharing) and (Admin center>>Setting>>Security & Privacy)

Question

I have an Office 365 tenant, and for sharepoint sharing settings, i found 2 places to manage the sharing settings:-

First Place. SharePoint admin center >> Site Collections >> Sharing

Second Place. Admin center >> Setting >> Security & Privacy >> Sharing

Usually i use the above first place to set the tenant level wide sharing settings + the sharing settings for each site collection... but recently i found the above second place to manage sharing.. so are the second place settings associated with components other than the ones covered in the above first place?? and what are the main differences between the two?

Answer 1

Per my test, it is same with SharePoint admin center >> Site Collections >> Sharing

If external sharing is turned off for the entire SharePoint Online environment, you will not be able to turn it on for specific site collections.

Share your Office 365 sites with external users:

https://support.office.com/en-us/article/share-your-office-365-sites-with-external-users-89502322-bfbb-43d6-9207-4030f8ce26e0