European lawmakers approve bank data sharing deal with US in terror probes
By APThursday, July 8, 2010
EU parliament approves financial data deal with US
BRUSSELS — The European Parliament has approved a long-awaited deal to share financial data with the U.S. in suspected terrorist cases, after Washington agreed to major concessions to allay concerns over privacy.
The agreement was adopted Thursday with 484 votes to 109 with 12 abstentions. It is due to take effect on Aug. 1.
It allows U.S. officials to request financial data from European banks if they suspect accounts are being used by people with terrorist links. Officials must provide European authorities with reasons for their suspicions, rectify inaccurate data and grant legal redress in U.S. courts if information is abused.
Separately, the European Court of Human Rights says Britain must hold off on extraditing four suspected terrorists to the U.S.
