Navigation path

Terrorist Finance Tracking Programme

The Terrorist Finance Tracking Programme (TFTP) has generated significant intelligence that has helped detect terrorist plots and trace their authors. An EU-US Agreement on the exchange of financial information ensures protection of EU citizens' privacy and gives the U.S. and EU law enforcement authorities a powerful tool in the fight against terrorism.

EU-US TFTP Agreement

The TFTP was set up by the U.S. Treasury Department shortly after the terrorist attacks of 11 September 2001. Since then, the TFTP has generated significant intelligence that has been beneficial for both the U.S. and EU States in the fight against terrorism. The Report on the value of TFTP Provided Data published on 27 November 2013 demonstrates the important benefits of the TFTP for international counter-terrorism efforts.

An international agreement on financial messaging data transfers to the U.S. Treasury Department is necessary to ensure that the TFTP continues to produce security benefits. However, the European Parliament rejected an interim EU-US Agreement, since it did not sufficiently protect EU citizens’ privacy.

The new EU-US TFTP Agreement, which took effect on 1 August 2010, is a substantial improvement compared to the interim Agreement. The text introduces the appropriate safeguards to accommodate legitimate concerns about security, privacy and respect of fundamental rights.

Main features

The Agreement significantly strengthens data protection guarantees relating to transparency, rights of access, rectification and erasure of inaccurate data. It guarantees non-discriminatory rights of administrative redress and ensures that any person whose data are processed under the Agreement will have the right to seek in the U.S. judicial redress for any adverse administrative action. The Agreement further acknowledges the principle of proportionality as a guiding principle for its application.

Under the Agreement, a European public authority - Europol - assesses whether the data requested in any given case are necessary for the fight against terrorism and its financing. Europol also verifies that each request is tailored as narrowly as possible to minimise the amount of data requested. If a request for data does not meet these conditions, no data can be transferred under the Agreement.

All the searches performed on the provided data are monitored by independent overseers including by persons appointed the European Commission. In accordance with the provisions of the Agreement, they have the possibility to review in real time and retroactively all searches made of the provided data, to request additional information to justify the terrorism nexus of these searches, and the authority to block any or all searches that appear to be in breach of the safeguards laid down in Article 5 of the Agreement.

The Agreement also empowers the EU to undertake a significant review of all its aspects. A first such review took place in February 2011, followed by a Commission report pdf - 296 KB [296 KB] in March. The second report was published in December 2012. The report (and its annex) on the third review which was conducted in April 2014 was adopted on 11 August 2014.

Equivalent EU system

The Commission has assessed the possible options for an EU Terrorist Finance Tracking System (EU TFTS) with regard to their necessity, proportionality, cost-effectiveness and respect of fundamental rights. As a result of this assessment the Commission concluded in its Communication of 27 November 2013 that at this stage the case to present a proposal for an EU TFTS was not clearly demonstrated.

Additional tools




N 090126248f07948f /dgs/home-affairs/e-library/documents/policies/crisis-and-terrorism/general/index_en.htm 3008 xml Y /dgs/home-affairs/e-library/documents/policies/crisis-and-terrorism/general/index_en.htm /dgs/home-affairs/e-library/documents/policies/crisis-and-terrorism/general/index_zz.htm N ID_INTERNAL N N
Related legislation
and documents

Glossary

Terrorist Finance Tracking Programme (TFTP)

A United States government program to access the SWIFT transaction database, revealed by The New York Times ...

+

Terrorism

In the absence of a generally accepted definition under international law, “terrorism” can be defined as ...

+

Principle of proportionality

Regulates the exercise of powers by the EU. It seeks to set actions taken by the institutions of the Union within ...

+