Civil Liberties MEPs confirmed on Tuesday the deal reached with Council on new rules improving law enforcement authorities’ access to financial information to investigate serious crime.

Financial data can offer valuable information to law enforcement authorities and can help them prevent, detect, investigate and prosecute serious crime and terrorism. The provisionally agreed new rules aim to improve law enforcement authorities’ access to information and the cross-border exchange of financial information between EU authorities.

Civil Liberties MEPs backed the deal in a vote by 48 votes in favour, 1 against and no abstentions.

The agreed text now needs to be formally approved by the Parliament as a whole and the Council of the EU before entering into force.