EU Working Party Unanimously Finds SWIFT-U.S. Data Sharing in Violation of EU Law1

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Monday, January 1, 2007
Author: 
Bruce Zagaris
Volume: 
23
Issue: 
1
Abstract: 

On November 22, 2006, the EU Article 29 Working Party adopted an opinion finding that the Society for Worldwide Interbank Financial Telecommunication (SWIFT)’s sharing of data with the United States violated applicable EU data protection laws.2  The opinion notes that both SWIFT and EU financial institutions failed to comply with their legal duties toward their customers.


            2              Article 29 Working Party, Press Release on the SWIFT Case following the adoption of the Article 29 Working Party opinion on the processing of personal data by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) 06/EN (Nov. 23, 2006).