Press Release: EU Review of the United States’ ‘Terrorist Finance Tracking Programme’ confirms privacy safeguards

In March 2008, the European Commission announced a review on behalf of the European Union in respect of the procedures governing the handling, use, and dissemination of financial transaction records from the EU which are carried over the SWIFT network and obtained by the U.S. Treasury Department pursuant to subpoenas issued in support of the Terrorist Finance Tracking Programme (TFTP). Judge Bruguière, designated by the Commission to undertake the review, prepared a first report to Vice-President Barrot.