The European Commission has been given a fresh mandate to negotiate with the US on that country’s access to European banking records. The last agreement was rejected by the European Parliament.
Whatever new deal the Commission and US authorities come to must be approved by a majority of EU states and by the Parliament.
The Council said that the data must only be used for targeted searching, and not for open-ended data sweeps. There must be information leading to suspicion that the person whose data is being examined has links to terrorism of its financing, it said.
“The negotiating mandate provides for strong data protection safeguards, such as the right to administrative and judicial review; the right of access, rectification and erasure of data; and the requirement that data transfers must be approved by a public authority in the EU,” said the Council statement.
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