U.S. businesses may take some comfort from the fact that a successor to the Safe Harbor agreement has finally been named, but at this point, they shouldn't get too comfortable.
Since it was first announced on Tuesday, the EU-U.S. Privacy Shield agreement governing trans-Atlantic data transfers has elicited considerable concern, not least because it remains largely unwritten and unclear. Privacy watchdogs in Europe have cautioned that it can't be relied upon for legal protection for several months; some say it won't be enough even then.
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