Thursday, 28 January 2010

EU Hands Over Personal Banking Data to US

Did you know that the EU has been secretly handing over EU citizens banking details to the US. It has now come to light because a row is brewing as to whether it should continue.

The European Parliament will next month vote on the agreement — and could scupper data-sharing, if the legislators oppose a temporary deal that EU governments want in place for nine months while they negotiate a fuller and longer-term accord with the U.S.

Such a deal would formalize a secret program launched in the wake of the Sept. 11, 2001, terror attacks that skirted Europe's strict privacy rules. It did that by transferring millions of pieces of personal information from the U.S. offices of the bank transfer company SWIFT to American authorities.

Go to title link for full stroty.