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European Lawmakers OK US Monitoring of Financial Transactions

HeadlineJul 09, 2010

The European Parliament has approved the resumption of a controversial data-sharing program that allows the US to monitor millions of international financial transactions. The records have been obtained through SWIFT, which directs trillions of dollars in international bank transfers each day. The program has been accused of violating privacy rights since coming to light in 2006. European Union lawmakers had rejected a proposed extension of the program earlier this year despite heavy Obama administration pressure. But on Thursday, the EU parliament backed a new deal that negotiators say will allow oversight of US investigators involved in the program.

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