New Russian data residency law has far-reaching effects.
Position | PRIVACY - Brief article |
If you have business connections with Russia, be prepared for the new data residency law that will go into effect September 1. Essentially it requires businesses to record and process personal data of Russian citizens through databases in the Russian Federation. Lothar Determann, an attorney at Baker & McKenzie, told Legal Tech News the law is farther reaching than some may realize, affecting companies that have:
* A subsidiary, branch, or representative's office in Russia
* Customers in Russia (such as an Internet or social media company)
* Customers who have customers or a presence in Russia (such as cloud providers)
* Suppliers in Russia (such as development centers)
"That means pretty much any company with an international business is affected to some degree," said Determann.
The effect on the company will depend on how significant its Russian ties are.
"Perhaps the greatest adverse effect is on Russian companies and Russian citizens," he suggested, pointing out that companies with headquarters or significant presences in Russia will lose access to advanced information technology products and services. Global...
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