From European Digital Rights: SWIFT (Society for Worldwide Interbank Financial Telecommunication) intends to open a new European focussed server in Switzerland. In 2006 it was revealed that the US government had access to SWIFT transactions via the Terrorist Finance Tracker Program.
The EC is drafting a new agreement on access with US authorities in advance of the new server, to the exclusion of the European Parliament and heavy criticism of MEPs. The Commission claim they are trying to negotiate a better deal, although this will apparently not include any EU access to US banking transactions.
In the meanwhile the Council of Foreign Ministers authorised the Swedish Presidency to negotiate a temporary agreement whereby information would be granted on a per request basis and could be stored in the US for up to five years.
Thursday, September 3, 2009
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