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Processing of Personal Data By SWIFTand EU Data Protection Opinion

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Follow-up to previous postings on the SWIFT online financial cooperative network, this November 23, 2006 corporate press release:

  • “SWIFT strongly objects to WP 29’s opinion [Opinion 10/2006 on the processing of personal data by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), 11/26/2006 WP 128] about the communication of personal data to the US Treasury (UST). SWIFT acted responsibly within applicable laws by complying with mandatory UST subpoenas for limited sets of data in the US for the exclusive purpose of terrorism investigations. It obtained from the UST extraordinary protections and control mechanisms that met both its obligations to protect the confidentiality of its members’ data and requirements to follow EU and US laws.”
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