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EU Lawmakers Question Terms of U.S. Deal to Share Bank Data for Terrorist Investigations
By Irene Madongo
printEU lawmakers will discuss controversies later this month surrounding an agreement to share data on terrorist financing with the United States after parliamentarians Thursday called aspects of the deal "unjust." In a session of the EU's Civil Liberties, Justice and Home Affairs committee, European Ombudsman Emily O'Reilly said members of parliament might reconsider the terms of the Terrorist Finance Tracking Programme (TFTP), an agreement between the United States and the economic bloc established in 2001 and reworked in 2010. Under the arrangement, U.S. officials can obtain limited access to interbank transactional messages sent via the Society for Worldwide Interbank Financial...
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Countries in the European Union should improve how they share financial intelligence, broaden their asset forfeiture laws and consider new legislation to fight the financing of terrorism, officials said Tuesday.
Two of Europe's powerhouse economies are expected to push for tougher controls to stamp out terrorist financing this month in reaction to a spate of attacks on the continent.
American officials acted within their rights when barring a European investigator from reviewing an audit of how the two continents exchange data linked to terrorist financing, EU attorneys said Thursday.
The European Parliament approved a plan Thursday to allow U.S. terrorism investigators access to international interbank messaging data under a set of conditions intended to protect EU bank privacy.
The United States and European Union tentatively agreed Monday to a plan allowing the sharing of interbank messaging data as part of investigations into terrorism.
The European Union and the United States move ahead with negotiations over Swift interbank data and a New York court sentences an alleged terrorist financier to ten years in prison, in this week's news roundup.
The rejection by the EU Parliament Thursday of a data sharing agreement with the United States is likely to leave U.S. investigators without timely access to European banking data for the second month in a row.
EU party leaders have rejected delaying a Thursday vote on an interim agreement to share European financial data with U.S. counterterrorism investigators.
A client of UBS AG pleads guilty to tax evasion as a longstanding data sharing arrangement between the United States and the European Union is poised to collapse, in this week's news roundup.
The EU Council passed a controversial agreement Monday to extend the access of U.S. counterterrorism investigators to European financial data by another nine months.
The agreement, announced June 27, resulted from months of negotiations after an EU advisory panel found that the consortium's sharing of information with the United States violated EU data protection laws.