Abstract:
In this research we aimed at studying the ever-increasing complex topic of international data transfers rules to what it holds of economic and business importance in the era of digital economy. We focused our research on the current interplay of rules between the US and EU, the cascade of rules and standards from a multidimensional perspective. We further supported our analysis with a close interpretation of the Privacy Shield, the former adequacy decision that was the basis for international transfers between both systems and the landmark case law initiated by Maximilian Schrems that led to the invalidation of the framework. Moreover, we highlighted the effect of this decision beyond trans-Atlantic data transfers in light of the recent decisions that were issued by national DPAs enforcing the Schrems II ruling across Member States. However, as the area of international data transfers has witnessed rapid changes since the beginning this year, we touched upon these developments in the last chapter because they remain integral to the evolution of privacy rules that will shape privacy practices in the future. In conclusion to this study, we could clearly recognize the complexity of the situation of regulating international data transfers in a way that guarantees personal rights, promotes economic growth, but also balances the interests of different jurisdictions. Moreover, we finally re-emphasized the increasing necessity of reaching a global framework for international data transfers that is inclusive of different jurisdictions and systems to achieve maturity in the field of privacy and data protection.
