Swift broke data protection laws

A EUROPEAN UNION panel has slammed Belgian based the Society for Worldwide Interbank Financial Telecommunication (SWIFT) for handing over the personal data of European citizens to US coppers.

Reuters reported that the EU's data protection panel said that Swift broke European privacy laws by handing over personal data to US authorities for use in anti terror investigations. The outfit did not even tell the Belgian authorities before it handed over the data.

Apparently, the company is still giving the data in response to US subpoenas.

The report also attacked the European Central Bank for its role in the affair. The Bank said that it was aware of transfers but could not prevent them.

Apparently Swift made a secret deal with the US Treasury to hand over the information mostly because it was operating in a legal black hole. There are no laws that cover which nation has jurisdiction over wireless transfers.

Swift reckons the US authorities had threatened it with fines and possible criminal penalties if it did not do as it was told.

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