Global Data Network Probed by EU Regulators Over NSA Reports
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European privacy watchdogs started a probe into whether consumers’ personal data on the global Swift money-transfer network can be accessed by the U.S. National Security Agency or other intelligence services.
The Dutch and Belgian data protection authorities are leading the investigation into whether the payment network is safe, Jacob Kohnstamm, the European Union’s top privacy watchdog said today. Swift relays money-transfer orders among more than 10,000 banks and other financial institutions in over 200 countries and territories.