Arab Today, arab today lebanese banks sacrifice privacy for \efficiency\
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

Lebanese banks sacrifice privacy for \'Efficiency\'

Arab Today, arab today

Arab Today, arab today Lebanese banks sacrifice privacy for \'Efficiency\'

Beirut - Arabstoday

Lebanese banks could soon implement a global banking communication system that would allow third-parties – like the US government – access to its financial data. In 2012, a Dutch businessman found out that his money transfer to a German counterpart, made through a German bank, had been appropriated by the Americans. While the sum of $26,000 was not huge, this incident had many implications regarding the extent of Washington’s reach in the world of “counter-terrorism.” To justify the move, US authorities claimed the funds in question were intended as payment for a shipment of Cuban-imported cigars. Since the communist island state is subject to a US embargo, the Dutch businessman had broken US law. The problem here does not lie in the pretext invoked by the US authorities, but rather in the mechanism that allowed them to detect and confiscate the funds. Indeed, this was only possible because they can manipulate the ‘secure’ interbank system operated by Belgium-based SWIFT, or Society for Worldwide Interbank Financial Telecommunication. Starting in 2001, the US administration launched a foreign espionage program targeting SWIFT databases and transactions as part of its global “war on terror.” The scheme remained secret until 2006 when exposés ran in The New York Times, The Wall Street Journal, and The Los Angeles Times. The newspapers revealed that the program was a joint initiative by the US Department of the Treasury and the Central Intelligence Agency (CIA). The program would later lead to the arrest of key members of al-Qaeda, such as Riduan Isamuddin (known as Hambali) in 2003, and other suspects involved in money laundering.SWIFT denied all involvement in, or knowledge of the Terrorist Finance Tracking Program (TFTP). A Euro-American controversy ensued over the program’s legitimacy until the issue was settled following extensive visits by US officials, including Vice President Joe Biden in 2009. akhbar

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lebanese banks sacrifice privacy for \efficiency\ Arab Today, arab today lebanese banks sacrifice privacy for \efficiency\

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lebanese banks sacrifice privacy for \efficiency\ Arab Today, arab today lebanese banks sacrifice privacy for \efficiency\

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday