Despite Criticism, EU Report Finds United States Abiding by Data Sharing Agreement

By Colby Adams and Brian Monroe

A report published by the European Commission on Thursday found that U.S. officials have abided by all data-security provisions contained within a controversial transatlantic bank-data sharing treaty. The Terrorist Finance Tracking Program (TFTP) agreement, which was finalized in August after years of political wrangling, allows U.S. access via targeted request to intra-European financial messages stored by the Brussels-based Society for Worldwide Financial Telecommunication, or Swift. U.S. implementation of the agreement "is scrupulously managed in accordance with a set of effective safeguards, some of which go beyond what is required under the Agreement," the report concluded. But the positive tone of...