TERRORIST FINANCE INFORMATION EXCHANGE SYSTEM REMAINS POLITICALLY CONTROVERSIAL
May 1st, 2011
BY ALAN OSBORN
FEW transatlantic agreements have given rise to more friction and animosity than the Terrorist Finance Tracking Programme (TFTP) set up by the US Treasury in 2001 shortly after the 9/11 terrorist attacks and in direct response to them. The idea was to allow the US counter-terrorism authorities access to financial data held by banks and others in Europe that would assist in identifying and tracing terrorists. But from the start it was clear that the idea of granting one country access to confidential financial information held in others was fraught ...
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