Businesses race to keep data flowing under a no-deal Brexit

"Instead, companies might continue to wait and see what happens with Brexit and hope that European regulators do not pursue the issue before they spend what could amount to "hundreds of thousands of dollars on very expensive legal solutions," said Omer Tene, Vice President and Chief Knowledge Officer at the International Association of Privacy Professionals.

"Companies entering into agreements relating to data with vendors in the UK, or vice versa, are already weighing the additional friction and cost of getting data in and out post Brexit," he said.

As a result, a French company may opt to partner with an EU area firm instead of a UK-based company in order to avoid legal turmoil, Tene said."