Europe’s head of data protection has challenged the
European Central Bank on its practice of allowing the US secret
service access to private bank-transfer data.
The European Data Protection Supervisor, Peter Hustinx, has
presented some preliminary observations on the study “The
Interception of Bank Transfer Data from the Swift System by the US
Secret Services”.
"We have not concluded our investigation on ECB's role yet, but
there are already some observations that I can share publicly,” he
said.
“I basically challenge the fact that the ECB continued to allow
confidential client banking data to pass to the US, although it had
become aware of the systematic access by American authorities.
Moreover, I cannot help feeling that the ECB should have at least
felt morally obliged to inform European governments and authorities
about this scheme."
Swift, the Society for Worldwide Inter-bank Financial
Telecommunication, is based in Brussels and links about 7,800
financial institutions around the world, including almost every
major bank and brokerage.
Serious questions have arisen on the routine sharing of
financial data by Swift with a complete ‘mirror system’ in the US,
allowing access to European banking data, Hustinx said. "These
questions need further analysis and reflection on compatibility
with European data protection law and on different issues of
responsibility," he said.
He confirmed European data law applies to Swift transactions and
said the ECB should have notified European authorities and
governments of US security agencies' arrangements with Swift.