Canadian Security Magazine

EU lawmakers urge scrapping bank data sharing agreement with US over spying allegations

By The Associated Press   

News Data Security Edward Snowden Europe NSA

European lawmakers narrowly approved a resolution seeking to scrap an agreement that grants U.S. authorities access to bank data for terrorism-related investigations.

The non-binding resolution on Wednesday followed leaks by Edward Snowden alleging the U.S. National Security Agency targeted a Belgium-based system of international bank transfers, known as SWIFT.

The resolution – adopted 280-254 with 30 abstentions – comes as a major rebuke, and shows the continuing outrage in Europe over Washington’s surveillance programs.

The measure’s opponents say cancelling the agreement would jeopardize a powerful tool in the fight against terrorism. Supporters say the alleged spying grossly violated the agreement and thereby voided it.

A majority of the 28-nation bloc’s member states could decide to scrap the so-called Terrorist Finance Tracking Program if a violation were to be proven.

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