New Report Calls for Focused Information Exchange to Better Protect Financial Privacy While Strengthening the Financial War on Terrorism
Proposes International Convention on Privacy and Information Exchange
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Alexandria, VA: To bolster the financial War on Terrorism, the United States ought to take the lead in forming an international Convention on Privacy and Information Exchange, says a new Report on Financial Privacy, Law Enforcement, and Terrorism, just released by the Task Force on Information Exchange and Financial Privacy.
Current U.S. policy on the sharing of financial information with other nations fails to protect the security of the American people, while damaging the financial privacy rights of individuals, said former U.S. Senator Mack Mattingly, Chairman of the Task Force. Current safeguards are insufficient to prevent information from being used by parties hostile to U.S. security interests, or for inappropriate commercial, political, civil, tax or other purposes. An international convention on this critical issue is long overdue.
According to the Report, information, including financial information, about terrorists and criminals should be routinely shared between the U.S. and reliable democratic countries. To achieve this goal, the Task Force recommends that the United States take the lead in forming an international Convention on Privacy and Information Exchange, which would streamline and improve the exchange of information for law enforcement and anti-terrorism purposes. The Convention would also establish, under international law, enforceable restrictions on the use of shared information, and it would establish a private right of action to enforce individual legal rights.
Members of the Task Force on Information Exchange and Financial Privacy include tax, legal, economic, and law enforcement experts from many of the nations leading public policy organizations. The Senior Advisors to the Task Force include the Hon. Jack Kemp (former Republican Vice Presidential candidate) and the Hon. Edwin Meese, III (former U.S. Attorney General).
In its newly released Report on Financial Privacy, Law Enforcement and Terrorism, the Task Force also recommends that the U.S.:
Copies of the Task Force Report are available from the Prosperity Institute, at 333 N. Fairfax St., Suite 302, Alexandria, VA 22314, tel. (703) 548-5868, or on the website at www.prosperity-institute.org/projects/PI-TF-Report.pdf.
For more information contact David R. Burton, Esq., of the Prosperity Institute at (703) 548-5868.
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