EU, US sign SWIFT terror finance deal

Deutsche Welle writes that the European Union and the US on Monday signed a revised agreement on sharing banking data to investigate suspected terrorist financing, moving the long-running negotiations over the deal a step closer to completion.


Under the revised deal, an EU official would be posted in the US treasury in Washington to scrutinize the transfer of the European banking data to investigators.

Information requests are also to be "tailored as narrowly as possible" and will be checked by Europol, the EU's police coordination agency.

The agreement still needs the green light from the European Parliament, which in February rejected an earlier proposal for US access to the so-called SWIFT database - a European consortium which records financial transactions.

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MEPs threaten second veto on EU-US bank data deal

Social Democrats, Greens and Liberals in the European Parliament on Tuesday expressed their dissatisfaction at the newly negotiated EU-US bank data transfer deal for anti-terrorism purposes, threatening to veto it again after having rejected an earlier version in February.

http://euobserver.com/9/30294/?rk=1

EU and US seal agreement on bank data transfers

EUobserver.com writes that the EU commission has finalised a draft agreement on transferring European banking data to the US as part of anti-terrorist investigations. The deal still needs approval of member states and the European Parliament.

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Yes to SWIFT unlikely as vote in limbo

Euractiv.com reports today that a debate in the European Parliament last night cast a cloud of uncertainty over a vote scheduled today (11 February) on an agreement between the EU and the US on the transfer of citizens' financial data to prevent terrorist attacks.

MEPs close to the negotiations told EurActiv that after a tense debate with the European Council and the European Commission, the Council began trying to hash out a compromise in the small hours of 10 February to satisfy MEPs' concerns on bulk data transfers and legal redress.

On Wednesday, the Council also issued a statement saying it would try to meet MEPs' concerns ahead of today's plenary vote.

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EU Parliament threatens to derail EU-US bank data deal

EUObserver.com reports that the European Parliament is threatening to derail an interim agreement allowing US authorities to track European bank transactions in terrorism investigations unless certain concessions are made.

The president of the European Parliament Jerzy Buzek at the end of last week sent a second letter to the Spanish EU presidency asking for more information on the so-called Swift agreement.

A plenary debate on the matter is scheduled for Wednesday in Strasbourg, during which the Spanish presidency is expected to give more answers on the technicalities of the deal.
The agreement would allow US prosecutors and investigators to tap into intra-European bank transactions as part of anti-terrorist enquiries - something EU lawmakers say raises privacy concerns.

Read the article here: http://euobserver.com/9/29284/?rk=1

EU/US Bank data transfer deal reached

EUobserver.com reports today that EU justice ministers approved a provisional bank data transfer deal with the United States, allowing American anti-terrorist investigators to access European financial transaction data for another nine months.

The interim agreement had sparked controversy among European Greens and Liberals, who cited data privacy concerns and slammed member states for "rushing" to get the deal done before the European Parliament acquires more powers in this field. A day later, with the coming into force of the Lisbon Treaty, the legislature would have had a bigger say on the agreement.

Read the entire story here: http://euobserver.com/9/29072/?rk=1