Swiss reached U.S. data exchange deal along lines of EU deal
Under that Privacy Shield agreement that came into force in August, the United States agreed to limit the collection of and access to Europeans' data stored on U.S. servers because of EU concerns about data privacy and mass U.S. surveillance.
That pact came after a previous deal, called Safe Harbour, was thrown out by the EU's top court in October 2015, leaving thousands of firms scrambling for legal ways to provide data on transactions ranging from credit cards to travel and e-commerce that underpin billions of dollars of transatlantic trade.
The Swiss-US Privacy Shield agreement applies the same conditions as the EU for sending personal data from Switzerland to companies based in the United States, the Swiss government said after a cabinet meeting.
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