I have no problem with reciprocal agreements between any country or countries so long as there is parity. E.g. If a hacker commits a crime in the US they should not be able to hide behind EU citizenship etc, however there is a problem when something is illegal in one area, but not in the other, as then there is a clear legal problem because the defendant has comitted no crime in their own country?
My biggest concern about the new EU law is that a large organisation such as a bank can now export personal data to countries such as India and then promise it will be safe, however as there are litteraly no DP laws in may of those countries, its a pretty hollow promise, and one that is virtually impossible to police from the US or EU.
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