Safe Harbor agreement cancelled

The European Court of Justice (ECJ) has invalidated the Safe Harbor. This agreement allows countries outside of European Union store personal data of European citizens under some security measures. This judgment has been based on the claim by the Austrian activist Max Schrems. The cancellation of this agreement affects mainly large US companies that base their business on the information like Facebook, Google and Twitter. The ECJ says that Safe Harbor requires participating companies to follow the law but does not affect the US authorities which can process the data according to its laws.