British Financial Think Tank Says Data Protection Possible Without 'Localization'

Personal data can be properly protected without forcing banks to build storage servers in every country they serve, which bumps up costs for customers and dents growth, a financial think tank said in a study. The London-based International Regulatory Strategy Group (IRSG) said data can be sufficiently protected without “localization” — the requirement to store data on servers inside the country where it originated.

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