Forensic Risk Alliance (FRA) – a global market leader in financial investigations, forensic accounting and data governance technology solutions and forensics – has opened a new data center in Stockholm, Sweden. The latest addition to FRA’s global network of data centers, the Nordic data center strengthens the firm’s response to growing regional demand for expertise and technological solutions for clients in these jurisdictions facing cross-border investigations, compliance obligations, litigation and arbitration.
Major cases in the news this year have demonstrated the increasing pressure on international businesses in the Nordics to comply and respond to various international regulators. Furthermore, in an environment of emerging national data privacy regulations, some regulations may conflict. Over 20 years of specializing in complex data transfer and privacy matters, FRA has consistently advised multinational clients and their counsel to minimize chances of breaching data transfer laws by erring on the side of caution and keeping data within its jurisdiction of origin as far as possible. Establishing a Swedish data center in-country, which is also backed up in-country, is intended to support clients in doing just that.
FRA’s Nordic data center, as with all the firm’s data centers, is state of the art and fully certified to Tier III standards, giving regional clients full data security assurance together with access to local processing, analysis and hosting solutions for all investigation, compliance, litigation and arbitration needs.
Derek Patterson, FRA Principal and head of Nordic offices, said: “The opening of our new data center in Stockholm tops off an exciting year of rapid expansion for FRA in the Nordic region, following the opening of offices in Helsinki and Stockholm in December 2018 and June 2019 respectively.
Major changes are developing in this region as international businesses face increasing non-domestic regulatory pressure, as well as growing pressure from investors, the media and the public. Governance and legislative change is likely in the near future too. Nordic business has long operated on the basis of trust, and this culture is now adapting to preserve this important element while supporting it with international best practice.”
Greg Mason, Founding Partner and head of technology divisions, said: “As end-users of data ourselves, FRA always has an eye on technological solutions that best support investigations. We understand that a multi-national company wanting to cooperate with an investigating authority in one place may fall foul of a different authority in the process, due to blocking statutes or industry-specific data restrictions. As more Nordic companies are confronted with these challenges, our Nordic data center will allow us to best serve client interests.”