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EU-US bank data sharing deal nearing conclusion

brussels bureau

EU-US bank data sharing deal nearing conclusion


A deal for European Union sharing its citizens’ bank data with terrorism investigators in the United States is expected within days, an EU negotiator says, after concessions were established to protect privacy.

The European Parliament vetoed a previous deal on the grounds that it ignored basic rights.

EU home affairs commissioner Cecilia Malmstrom said: “The individual data that US is looking at has to be related to an investigation. It has to be a person suspected in an investigation on terrorism. They can not just look around to see if they find anything interesting. So your transfers and my transfers will not be interesting for them.”

There were also concerns over Europeans’ ability to complain if their information is wrongly used.

Malmstrom said under the new deal, Europe’s police agency Europol would oversee requests for data transfers and an EU representative would monitor how it is used in the United States.

Brussels said unjustified requests would be rejected.

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