Abstract
The new Anti-money Laundering Directive aims
to prevent the crimes of money laundering and
terrorist financing in the European Union (EU)
and introduces requirements for collecting and
retaining personal data from customers of finan-
cial systems.
This article evaluates the proportionality of the
data retention requirement in light of the protec-
tion of the rights to privacy and personal data of
the individuals, taking as a standard for evalu-
ation the reasoning of the Court of Justice of the
EU in the Digital Rights Ireland case.
We submit that in light of a human rights guided
approach the legislator must follow the logic of
‘need to know’ instead of the one of ‘nice to
know’ when interfering with the individual’s
rights to privacy and data protection.
to prevent the crimes of money laundering and
terrorist financing in the European Union (EU)
and introduces requirements for collecting and
retaining personal data from customers of finan-
cial systems.
This article evaluates the proportionality of the
data retention requirement in light of the protec-
tion of the rights to privacy and personal data of
the individuals, taking as a standard for evalu-
ation the reasoning of the Court of Justice of the
EU in the Digital Rights Ireland case.
We submit that in light of a human rights guided
approach the legislator must follow the logic of
‘need to know’ instead of the one of ‘nice to
know’ when interfering with the individual’s
rights to privacy and data protection.
| Original language | English |
|---|---|
| Pages (from-to) | 115-125 |
| Number of pages | 11 |
| Journal | International Data Privacy Law |
| Volume | 7 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 5-Apr-2017 |