US control over transactions within the European Union (2012)

4 points by znowi 12y ago ↗ HN

http://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication#US_control_over_transactions_within_the_European_Union

Found this story on the SWIFT wiki page. I have two questions.

1. What legal grounds do the US have in enforcing the Cuban embargo on other countries? 2. If there's someone familiar with the case, how did it end?

1 comment

[ 3.5 ms ] story [ 10.7 ms ] thread

Dwolb 12y ago ↗

Read the page lightly. Sounds like since the datacenter is in the United States, the federal government has some legal authority.

Tangentially related, post-Wikileaks, US payment providers have scrambled to deco uple international branches from US government involvement. Essentially, the US's ability to shut down international payment networks spooked foreign governments enough to consider creating new payment networks and services.