Central Banking

Swift defends role in data exchange

Swift, the Belgian company accused of transferring data on financial transactions to the US authorities, has refuted claims that it acted illegally.

Speaking at a hearing in the European parliament, Francis Vanbever, Swift's chief financial officer, said the company "strongly objected" to suggestions by the Belgian authorities that it had broken national and EU data protection rules.

Read the EC's press release here

He said the underlying issue was the difference of opinion between Europe and t