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SWIFT Agreement Signed

FINANCIAL PRIVACY—EU & U.S.

June 28, 2010

The EU and U.S. signed a revised agreement today, moving closer to a deal that would allow the sharing of banking data in investigations of suspected terrorist financing, Deutsche Welle reports. "At the eleventh hour, we have obtained satisfaction on most outstanding issues," MEP Guy Verhofstadt said last week, describing provisions that would allow the filtering of EU citizens' personal information before it is transferred. Under the revised agreement, an EU official would be posted in the U.S. to scrutinize the transfer of European banking data to investigators, and requests would be "tailored as narrowly as possible" and checked by the EU's police coordination agency, the report states. MEPS are expected to vote on the agreement in July.
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