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EU-TFTS (Terrorist Finance Tracking System): USE OF USA TECHNOLOGY & COOPERATION WITH USA TFTP

01 November 2011

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EU-TFTS (Terrorist Finance Tracking System): USE OF USA TECHNOLOGY & COOPERATION WITH USA TFTP: France has intervened in the discussions over the creation of an EU TFTS: France's position with respect to a European TFTP (Council of the European Union: Doc no: 13716-11, pdf) which says:

"Overall, the programme should be designed to be compatible with the system implemented with the US. On the one hand, the United States has agreed, in the aforementioned Agreement, to a technology transfer, which will help reduce design costs of the system. On the other hand – again under the terms of the Agreement – the United States and the European Union have agreed, once the European system is operational, to cooperate via their respective TFTPs." (emphasis added)

France acknowledges that the TFTS "would involve large-scale transfers" from financial institutions in the EU from which, using "terrorist threat identification skills" targets will be selected at national level. Each Member State would apply its own perception of a potential terrorist "threat" - which on past practice can vary from state to state. No central database would be create but national hub could give data access to third countries and "allow data searches requested by the United States".

Commission Communication: A European terrorist finance tracking system: available options (COM 429, pdf)
EU-USA Agreement: Full-text of EU-USA Agreement on Terrorist Finance Tracking Program (Agreed in July 2010, pdf).

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