The European Union and the United States have agreed on changes to an important data-transfer agreement. The pact includes stricter rules for companies holding information on Europeans and clearer limits on U.S. surveillance.
E.U. member nations are expected to vote on the revised E.U.-U.S. Privacy Shield in early July.
Reuters reported that “Cross-border data transfers by businesses include payroll and human resources information as well as lucrative data used for targeted online advertising….”
However, revelations of mass U.S. surveillance practices three years ago intensified distrust of such huge big U.S. tech companies as Facebook, Google and Apple.
“Brussels and Washington rushed to hammer out the data pact after the E.U.’s highest court last year struck down the previous system, Safe Harbor, on concerns about mass U.S. surveillance practices, threatening data flows that are key to billions of dollars of business,” Reuters reported.
“For 15 years Safe Harbor allowed both U.S. and European firms to get around tough E.U. data transferral rules by stating they complied with European privacy standards when storing information on U.S. servers.”
To read the Reuters article, please hit this link.