Daily DashboardEuropean Data Protection Digest

Bank Data Transfer Details Withheld

FINANCIAL PRIVACY—EU & U.S.

February 24, 2011

Six months after the Terrorist Finance Tracking Agreement between the EU and the U.S. came into effect, PCWorld reports that both the European Commission and Europol are not releasing details on the number of U.S. requests for data that have been received and approved. When the agreement came into place, EU Commissioner Cecilia Malmström was quoted as pledging "complete transparency as far as access and use of data are concerned" as well as "access to appropriate tools and redress procedures to ensure that privacy is protected." While Europol has said such questions must be answered by the commission, the commission's response has been that neither it, nor Europol nor EU Member States "have the power to bindingly interpret the agreement."
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