Statement by the President on the U.S.-European Union Agreement on the Terrorist Finance Tracking Program

July 8, 2010

The White House
Office of the Press Secretary
For Immediate Release


The United States welcomes today's decision by the European Parliament
to join the Council and Commission of the European Union in approving a
revised agreement between the United States and the European Union on the processing and transfer of financial messaging data for the
Terrorist Finance Tracking Program (TFTP). We look forward to the
Council's completion of the process, allowing the agreement to enter
into force on August 1, 2010, thus fully restoring this important
counterterrorism tool and resuming the sharing of investigative data
that has been suspended since January 2010. The threat of terrorism
faced by the United States and the European Union continues and, with
this agreement, all of our citizens will be safer.



The TFTP has provided critical investigative leads -- more than 1,550 to
EU Member States -- since its creation after the September 11, 2001
terrorist attacks. These leads have aided countries around the world in
preventing or investigating many of the past decade's most visible and
violent terrorist attacks and attempted attacks, including Bali (2002),
Madrid (2004), London (2005), the liquids bomb plot against
transatlantic aircraft (2006), New York's John F. Kennedy airport
(2007), Germany (2007), Mumbai (2008), and Jakarta (2009).


This new, legally binding agreement reflects significant additional data
privacy safeguards but still retains the effectiveness and integrity of
this indispensable counterterrorism program.


Protecting privacy and civil liberties is a top priority of the Obama
Administration. We are determined to protect citizens of all nations
while also upholding fundamental rights, using every legitimate tool
available to combat terrorism that is consistent with our laws and
principles.