EUROPEAN COMMISSION PUSHES FOR REPLACEMENT OF SCRAPPED ‘SWIFT’ AGREEMENT
March 1st, 2010
BY KEITH NUTHALL
THE EUROPEAN Commission has pushed for a quick replacement of the provisional 'SWIFT' agreement transferring European Union (EU) banking data to the United States' Department of The Treasury.
It has proposed it should quickly negotiate a new Terrorist Financing Tracking Programme (TFTP) deal with Washington, following the annulment of an existing provisional agreement by the European Parliament. It had allowed the transfer of data held by Belgium-based financial messaging company SWIFT of around 8,000 institutions (mainly banks) in more than 200 ...
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