International Business Times
September 25, 2013
The European Union has threatened to suspend or even terminate the crucial EU-US Terrorist Finance Tracking Programme, after allegations that the US National Security Agency (NSA) spied on bank-to-bank messaging via the Society for Worldwide Interbank Financial Telecommunication (Swift) network.
More than 10,000 banking organisations, securities institutions, and corporate customers in 212 countries use Swift every day to exchange millions of standardised financial messages.
The NSA has been widely criticised over its surveillance programme that spied on politicians, bureaucrats, and businesses across the world via phone calls and internet activity.