Should personal data of your customers from the EU be transferred to the USA? Then you should now think about whether the EU-US Privacy Shield is the right legal basis for the transfer of data to the United States for your company. Because even between the EU and the US, data protection is an important issue that you should consider.
What is the EU-US Privacy Shield?
The EU-US Privacy Shield is a data protection agreement between the European Commission and the US Department of Commerce, which regulates the transfer of personal data from the EU to the US. This has been the successor to the invalidated Safe Harbor Agreement since 12.07.2016 and aims, above all, to better protect the privacy of European consumers and to increase transparency in terms of collecting, using and sharing data. The benefit to American companies is that they can immediately demonstrate, through a public certification under the Privacy Shield, that European privacy standards are adhered to in the company.
At the same time, the new Privacy Shield provisions also lead to a large need for action for participating American companies, as various data protection requirements must be met.