Report: Internet Giants To Comply With Russian Personal Data Law
Several giant Internet companies will acquiesce to a new Russian law that requires storing Russian users' personal data inside Russia, according to the Russian non-governmental news agency Interfax.
EBay Inc. (NASDAQ: EBAY) and Alibaba Group Holding Ltd. (NYSE: BABA) have each agreed to comply with the law, state media watchdog Alexander Zharov said in the report, which was picked up Tuesday by the independent English language newspaper Moscow Times.
A separate privacy agreement called Safe Harbor that regulates how U.S. companies handle the personal data of European citizens came under fire recently in a European Union court case, according to The Wall Street Journal.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.