Mar 172011
 March 17, 2011  Posted by  Featured News, Non-U.S.

European Parliamentarians have slammed the latest Swift bank data sharing deal with the US, saying that six months after it was introduced checks put in place are failing and American requests for information simply rubber stamped by Europol.

After months of wrangling, MEPs finally voted in favour of the Terrorist Finance Tracking Program (TFTP) last summer having secured measures to secure privacy. These included a role for Europol in verifying that US requests are justified.

However, half a year on MEPs on the civil liberties committee say that US requests for banking data “are too general and abstract to allow Europol to check whether they meet EU data protection standards, and Europol seems to be merely rubber-stamping them”.

Read more on Finextra.

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