US, EU reach agreement on financial data monitoring in terror probes Michael Sung at 1:10 PM ET
[JURIST] Diplomats from the United States and the European Union (EU) said Wednesday they have reached a provisional agreement [press release] on the US use of financial data from the Belgian-based Society for Worldwide Interbank Financial Telecommunication (SWIFT) [official website], formulating more EU oversight of the US Terrorist Finance Tracking Program [US DOT statement]. The agreement ensures that the US adheres to EU privacy laws by restricting the use of the data to anti-terror probes and granting the EU periodic reviews of the data's use to ensure compliance.
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