Global Investigations Review - The law and practice of international investigations

Proposed US bill puts banks on collision course with incoming GDPR

By Waithera Junghae

19 January 2018

Proposed US bill puts banks on collision course with incoming GDPR iStock.com/AndrewLinscott

A proposed US law requiring foreign banks to hand information to authorities within 10 days of a demand – or face being cut off from correspondent banks – would put financial institutions in direct conflict with EU data protection laws coming into force in May, lawyers say.