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"War on terror" forces firm to break EU la

Turismo (993090) writes | more than 6 years ago

Businesses

Turismo (993090) writes "European legislators aren't happy that the US has subpoenaed European financial information for four and half years from SWIFT, the Belgian group that allows banking systems to interoperate. Because it mirrored all European data to a US backup, SWIFT became the target of Treasury department subpoenas in the "War on terror." SWIFT has gotten in plenty of hot water back home, where the European Parliament just passed a resolution asking the company to stop hosting its data in the US. "The resolution makes it clear that SWIFT is not off the hook simply because the company was complying with US law. The decision to store European data in America was a "purely commercial decision" on the part of SWIFT; to better comply with its obligations toward European data, the company was advised to stop mirroring European data to the US or to move the mirror somewhere outside of US jurisdiction." Will other multinationals start doing the same thing?"

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