"SWIFT Anti-terror Data Transfer Broke Rules"

[GreenPartyVoter]

BRUSSELS, Belgium (AP) - The transfer of confidential banking records by a Belgium-based company to U.S. authorities for use in anti-terrorism investigations breached Belgian and likely European Union data privacy rules, top government officials said Thursday.

The controversy surrounds a secret transfer deal between the U.S. treasury and the Belgium-based Society for Worldwide Interbank Financial Telecommunication, or SWIFT.

The company routes about 11 million financial transactions daily between 7,800 banks and other financial institutions in 200 countries, recording customer names, account numbers and other identifying information.

"SWIFT finds itself in a conflicting position between American and European law," Prime Minister Guy Verhofstadt said. "When you look to every European legislation they ask more guarantees than those obtained by SWIFT."

http://apnews1.iwon.com/article/20060928/D8KDSMDG0.html

[rodeodance]

1. of course the US would get a compay who is lax on the rules.