FCA's Palantir deal raises concerns over US access to UK financial data
By
Robert Booth
Hand-rolled, kettle-boiled, baked to perfection. Worth every minute at the bakery.
Summary
The UK's Financial Conduct Authority (FCA) is facing scrutiny over its partnership with Palantir, the US tech company co-founded by Peter Thiel. Critics, including MP Martin Wrigley, warn that US laws could compel Palantir to share sensitive UK financial and citizen data with the Trump administration. The deal, intended to help the FCA detect financial crime, raises concerns about backdoor access to British data by American authorities.
Key quotes
· 3 pulledA US law that can oblige tech companies to disclose information to American authorities may apply to Palantir's deal to help the Financial Conduct Authority detect crime
The UK's financial watchdog is being urged to prove its relationship with the US tech company Palantir will not provide the Trump administration with backdoor access to troves of sensitive citizen and commercial data.
The $375bn tech company, co-founded by the Trump-supporting billionaire Peter Thiel, is expected to apply it
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