[featured-text]A very good question! There is still a lot of confusion over how data is to be handled as it crosses the Atlantic. The original Safe Harbor agreement was established between the EU and US to allow companies to transfer employee and customer data between countries without the necessity of asking for direct permission from affected individuals each time the information was shared.[/featured-text]
The new agreement, if accepted buy all authorities, will definitely be beneficial to all companies, especially large multinational companies such as Google and Apple that have relied on the legacy Safe Harbor agreement for over a decade. The consensus thus far regarding the new agreement is that it will be an improvement and create stronger privacy safeguards for the over 4000 companies it affects and who rely on mass amounts of data flows across the Atlantic while still allowing critical data movement.
Unfortunately, the final sign-off is still in limbo and affected companies are worried about how the waiting game will impact existing data transfers. We are all hoping that the EU will not block the proposal on that table today. The deal was supposed to be signed off on by January 31st and now we are into our second week in February. We will follow these events closely and share information with you as we learn more.
To read the most recent official update from Europe click here.