According to online reporter, NDTV News, Microsoft Corp. and Google are now among 103 companies – out of the 5,526 signatories to officially adopted the EU-US Privacy Shield framework, enabling them to receive personal data from the European Union (EU) in compliance with the new standards.
According to Ars Technica, social media giants, Facebook Inc., and Twitter Inc plus Apple Corp. are also yet to adopt the Privacy Shield.
The European Commission adopted the Privacy Shield in July this year to facilitate the transfer of personal data from the EU to the US.
“Privacy Shield is a voluntary scheme, whereby companies promise to treat European citizens’ personal data in compliance with European Union data rules. Those pledges are then enforced by the US Department of Commerce.”
According to the EU, the arrangement was necessary because the US does not meet the data protection standards required by Europe. The European Court of Justice annulled the previous law in October 2015.[related-posts]
Since its introduction in 2000, the previous agreement had come to be relied on by 4,400 businesses, including internet giants such as Facebook, Google and Amazon.