70 percent of IT decision makers at international companies expect to increase spending next year. 66 percent expect to have to make changes in their European business strategy. European Court of Justice invalidated Safe Harbor agreement that had previously governed the sharing of data between Europe and the U.S. in October. New framework is currently being negotiated, but it is likely that companies will face stricter controls about moving data between countries, and may even have to move data centers closer to their users and customers. Only 53 percent of respondents have data classification systems in place to align data with access controls.”]
Source: https://www.csoonline.com/article/3014593/firms-expect-fines-new-costs-from-safe-harbor-changes.html