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Banks To Notify Employees of Data Transfers


September 7, 2012

In the wake of concerns surrounding the transfer of bank data to other countries, World Radio Switzerland reports that Swiss banks have agreed to inform employees before data is sent to foreign tax investigators. Data Protection Commissioner Hanspeter Thür said five banks have “signed on to notify employees after Thür threatened to ask the Federal Administrative Court to force banks to protect employee data,” the report states, noting Thür met with bank officials to promote “a transparent process for employees” and that he has “doubts data handovers to the U.S. are legal.”
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