Feeds

Europe approves US mass data grab

Feds get all our bank info

Beginner's guide to SSL certificates

Europe has signed a deal to hand over all bank transaction data to the US in order to help the ongoing war on terrorism.

The SWIFT agreement was signed yesterday in Brussels by Spanish minister for home affairs Alfredo Pérez Rubalcaba and the US embassy's economic economic officer to the EU, Michael Dodman.

Rubalcaba welcomed the "excellent agreement", which he said had been reached after discussions with the European Parliament.

The treaty must now be approved by the European Parliament. Assuming it does pass it will be in force for five years.

IT gives the US Treasury access to bank transactions although there is now some filtering at the European end. The agreement will be overseen by Europol.

The Swift agreement was first approved in the wake of the 9/11 attacks. It lapsed in February after the European Parliament rejected an earlier draft.

The European Data Protection Supervisor remains unimpressed and has questioned the need for bulk transfers of data and the time such data is kept without being investigated by US authorities. The EDPS has also called for better oversight of the process.

Most of the world's bank transactions are transmitted by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), based in Belgium.

Read more here. ®

Protecting against web application threats using SSL

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.