Customers must be told of US bank transaction monitoring

Wednesday, 27 June 2007, 10:52 AM EST

Privacy chiefs have given Europe's banks a September deadline for alerting customers that their financial transactions could be tracked by US security agencies. Customers must be warned that even transactions within Europe could be monitored, they said.

The new rules come from the Article 29 Working Party, a committee of European data protection officials, and it has said that banks must inform customers when there is a danger that transactions could be monitored by authorities in the US.

At Out-Law.

[ Read more ]




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