EC Finds No US Breach Of Bank-Data Sharing Program

Law360, New York (November 27, 2013, 5:29 PM EST) -- The European Commission on Wednesday declined lawmakers’ calls to halt cooperation with the United States on a program aimed at disrupting terrorism financing, finding no evidence that U.S. agencies obtained unauthorized access to European citizens’ bank information.

The European Union’s executive arm adopted a report accepting assurances that the U.S. had not tapped financial transaction data held by the Society for Worldwide Interbank Financial Telecommunications network beyond what the transatlantic Terrorist Finance Tracking Program authorizes.

The report concluded that no further consultations were needed “at this...
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