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As EU Advances Privacy Agenda, US Officials See Reason for Concern
By Colby Adams
printAn expected strengthening of data privacy standards in Europe and elsewhere could hinder efforts by multinational banks to share information on suspicious clients with their foreign affiliates, say current and former U.S. officials. Under a proposed regulation forwarded by the European Commission in 2012, EU member-states would adopt uniform measures to protect personal data, in part by requiring companies to notify citizens of how their information is used and, in some cases, to obtain consent before sharing such details. Companies would also have to notify individuals and data protection authorities "without undue delay, where feasible within 24 hours" if information...
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