Daily DashboardEuropean Data Protection Digest

EU Exploring Its Own Funds-Tracking Program

FINANCIAL PRIVACY—EU & U.S.

July 13, 2011

In the wake of objections by many EU officials to a program that allows the U.S. to access European financial transactions as part of efforts to fight terrorism, the European Commission has presented its own proposals for tracking finances of suspected terrorists. The New York Times reports the plans "are aimed at ending the primary role of the United States in those efforts," quoting Commissioner Cecilia Malmström's statement that an EU system "would need to fully respect fundamental rights and, in particular, ensure a high level of data protection." One of the EU's primary goals will be to limit the amount of data sent to the U.S. (Registration may be required to access this story.)
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