US fights for access to EU bank data

February 8th 2010 6:06am

The US government has initiated a diplomatic offensive against threatened moves by MEPs to block a deal that gives American intelligence agencies direct access to European bank data. The arrangements empower the US to track the flow of funds through the banking system by accessing information collected by the Society for Worldwide Interbank Financial Telecommunication (Swift), which registers international money transfers.

From: www.irishtimes.com



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