SWIFT Transfers in Spotlight
FINANCIAL PRIVACY—EU & U.S.March 10, 2011
Europol has approved requests to send citizens' banking data to the U.S. Department of Treasury "without sufficient consideration for data protection laws," PCWorld reports. That is according to the findings of an investigation by Europol's Joint Supervisory Body (JSB), which were made public yesterday by Germany's data protection authority. A JSB team of seven data protection experts conducted the investigation into transfers under the so-called SWIFT pact. It found that some of the transfers approved by Europol failed to meet a provision that the U.S. "clearly substantiate the necessity of the data" in combating terrorism.