Leader: Are you the master of your own data?

For the benefits that freedom of movement internationally has brought, there are still aspects that worry us immensely as developed societies.

Understandably, we have strict processes and laws on how physical goods are shipped around the world. Some of us are wary of one country's meat, others Cuban cigars. We all want materials for weapons to be accounted for.

A major concern is also human traffic (and indeed trafficking in humans, though that's not what this article is about).

But potentially as far-reaching a problem as the above is the international movement of data associated with individuals. And so it is we have data protection laws that seek to let us own what is recorded about us - or at least have fair access to it. From the UK, this concept now seems like an inalienable right.

But what happens when data is forcibly or unknowingly moved from one place to another? Take the dispute over the transfer of airline passenger data currently being waged between the US and EU. Does fighting the threat of terrorism require such sharing of customer information?

Then there's the delicate issue of offshoring. Today this publication learnt that a small number of UK financial institutions - badgered by customers unhappy about what might be leaked abroad - have even set up separate UK operations that will keep data UK-bound.

Is this an overreaction? From the point of view of a company wanting to keep high net worth individuals, almost certainly not. You can also bet it will seem a wise move when we hear about the first horror story in some far-flung corner of the world.

It is tempting to say data will leak, as sure as vulnerabilities in complex software will be discovered or spam will be sent. But let's not be fooled. Sensible data protection regimes around the world - and the UK should be applauded for its progress in this area - can make a difference. They will do much to protect some of our most valuable assets - the information that relates to us.