London financial newspaper CityAM explains that Meta had used the transatlantic data transfer framework called Privacy Shield as the legal basis to transfer data on European users…
In context: Meta has threatened to shut down Facebook and Instagram in Europe if it is not allowed to transfer, store, and process user data on its US servers. If such a move was to happen, it would affect hundreds of millions of social media users across its two popular platforms and have a huge impact on Meta’s business and bottom line. London financial newspaper CityAM explains that Meta had used the transatlantic data transfer framework called Privacy Shield as the legal basis to transfer data on European users from the continent onto US servers, but the treaty was annulled in 2020 over data privacy violations. Meta also uses other agreements to enable transatlantic transfers and to store European user data within the US, though these are also under scrutiny from regulators.
