Whitepaper on Regulatory Implications for Cross-Border Data Transfers from Saudi Arabia to the United States
This whitepaper summarizes privacy requirements related to the cross-border transfer of data from the Kingdom of Saudi Arabia to the United States of America.
Using research conducted in April 2018 with the assistance of a global law firm, this paper outlines the following regulatory compliance scenario: a Saudi Arabia-based financial institution transfers Financial and/or Customer Data cross-border to a US service provider. The structure of this transfer could be one where the financial institution either (a) outsources its information directly cross-border to the US service provider, or (b) stores the data on the cloud, where a US service provider would then source the data. Key considerations include Saudi Arabian data privacy laws on banks and financial institutions, requirements related to methods of transferring Financial and/or Customer Data and best practices.
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