rtmark
LearnBonds.com

Google Plans to Shift UK Accounts to the US, Escaping EU Data Protection

Google

Google (NASDAQ: GOOG) plans to move its UK users’ accounts under US jurisdiction. The move is prompted by Britain’s exit from the European Union. The European Union (EU) privacy regulators will no longer have the ability to control the British user’s accounts after the announcement.

The strategy of moving the accounts to US jurisdiction will make it easier for British law enforcement agencies to reach sensitive information of tens of millions of people, according to a Reuters report. The company also intends to amend its terms and conditions for UK account holders, requiring them to accept new terms.

The EU was the first region to introduce sweeping data privacy law in 2018 with its General Data Protection Regulation (GDPR) legislation, which was criticised by tech firms at the time for adding heavy-handed costs to the industry.

“Nothing about our services or our approach to privacy will change, including how we collect or process data, and how we respond to law enforcement demands for users’ information,” Google said in an emailed statement. “The protections of the UK GDPR will still apply to these users.”

Cloud Act Reduces Data Protection from Agencies

British authorities can now more easily obtain data from US companies following the latest Clarifying Lawful Overseas Use of Data Act [Cloud Act] in the US. The act permits US federal law agencies to get the requested data from technology companies. The authorities can access data regardless of whether the technology companies stored that data within the US or in other countries.

“I would have been surprised if the company had kept British accounts controlled in an EU country with the United Kingdom no longer a member, Lea Kissner,” said Google’s former lead for global privacy technology.

Other Companies Could Follow Google

Over the coming months, other US tech firms, such as Facebook and Amazon, may have to make similar choices.

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission on real stocks

Rating

64 traders signed up today

Visit Now

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

What we like

  • 0% Commission
  • Trade Stocks Via CFDs
  • Authorized & regulated by the FCA

Min Deposit

$100

Charge per Trade

Zero Commission

Rating

Visit Now

76.4% of retail investor accounts lose money when trading CFDs with this provider.

Available Assets

  • Total Number of Stocks & Shares+2000
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Future
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • Dax Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire transfer
  • Credit Cards
  • Bank Account
  • Paypal
  • Skrill
Users should remember that all trading carries risks and users should only invest in regulated firms. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
sahry88@gmail.com'

Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.