Multinationals ‘shop around’ for the best place to host data…:
Australian cloud provider Vault Systems has said it is being “materially and detrimentally impacted” by Australia’s encryption laws, even if it is just the perception of them.
“As foreign governments and customers are assessing against a ‘media headline test’, we are in an unfortunate position where logical persuasion is not sufficient to counter perception,” Vault said in a submission to a review of the laws.
“We are currently seeing an exodus of data from Australia including physical, operational, and legal sovereignty.”
The cloud provider said based on the size of the Australian market, and its “perceived compliance burden”, it has seen multinationals blacklist the nation, even when the same company operates in China and Russia.