USA No Longer Able to Access Swift Data

Executive Summary - Since Dec. 31, 2010 the USA has not been able to access Swift data routinely like it used to be able to do for a number of years in the name of terrorism. The EU Parliament voted to shut down USA access to Swift data on wire transfers concerning EU bank accounts. The EU Parliament voted 378 against with 196 for and 31 abstaining. The SWIFT data will now only be stored in the Netherlands and Switzerland. Previously the data was also stored in the USA. This stops any blanket access. It will also mean wires will move more quickly since the USA is not harassing millions of people with their so called anti-terrorism screening of wire transfers. So the USA screams about the shoe bomber and one has to remove their shoes at the airport. Then they get the underwear bomber and along comes body scanners. There is no tie to Swift wire transfers with these terrorists.

Caution - The USA has been shut out of EU Swift wires. Remember if you send a wire in USD it will still go through the USA and they will then have the Swift information. If you use a currency that is not USD then the Swift wire transfer will be safe and secure from the USA prying eyes and delays for ant-terrorism screening. So if the wire is coming from the USA or going to the USA, the USA will have the Swift details. We can help you bank in other currencies in other countries and be free of USA prying eyes and delays. Do be advised that EU countries do have numerous tax treaties to share information. The EU countries also have numerous MLAT (Mutual legal Assistance Treaties) calling for the sharing of information in criminal cases including crimes like tax fraud, money laundering. Which the USA tags onto what would be construed as a regular civil tax case in most countries. What we are saying is we do not advocate using the EU as a secure privacy haven for banking or even for forming corporations.

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