EU Banks to Inform Clients that Personal Data Could be Given to U.S. Authorities
David Lindsay writes on The Malta Independent Online:
An EU working party looking into the SWIFT – US financial transaction privacy scandal has found that all European banks using the SWIFT service must inform clients that US authorities could be given access to their personal, banking and financial data as a result.More here.
The so called "Article 29 Working Party" also found that any European bank using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) for financial transactions also shares culpability, to varying degrees, for the wide-scale compromising of personal data and banking details.
Belgium-based SWIFT is a worldwide financial messaging service that facilitates international money transfers. Millions of European banking transaction records, including Maltese, on the SWIFT database were found to have been secretly passed over earlier this year to US intelligence agencies – specifically the US Treasury Department (UST) and the Central Intelligence Agency – since 2001.
(Props, Flying Hamster.)
posted by Fergie @ 11/26/2006 10:31:00 AM
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