U.S. to Take Account of EU Data Protection Principles in Its Use of SWIFT Data

The European Union has been given a series of unilateral "representations" by the United States Treasury Department that address EU data protection concerns about the handling of European personal data received under subpoena from the U.S. arm of SWIFT, an EU company that operates a worldwide financial messaging network for banks and other financial institutions. As a result, data use will be exclusively for counterterrorism purposes, unnecessary information will be deleted, and an "eminent European" reporting to the European Commission will be appointed to conduct an annual oversight of the system in practice.

EU Commission Vice President Franco Frattini said, "The EU and its most important strategic partner in the fight against terrorism, the U.S., have to join forces in this fight, including the financing of terrorism. However, these activities should be done in full respect of fundamental rights, including notably data protection rights and the right to privacy of EU citizens." Vice President Frattini is "now looking to SWIFT and to the financial institutions that use its services to take the necessary steps so that SWIFT will be in compliance with the [EU's] Data Protection Directive."

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