SWIFT deal on data sharing with US reopened
June 24, 2010

The European Union’s member states have accepted demands by MEPs to amend a draft data-sharing agreement with the United States that has already been initialled. The changes to the so-called SWIFT agreement, named after the company that communicates data on electronic banking transfers, concern how the EU oversees data extraction by US officials working on the Terrorist Finance Tracking Programme (TFTP). The proposed changes have been communicated to the Americans and are not expected to be particularly controversial.