UK FCA Faces Cloud Act Fears Over 12-Week Palantir Data Trial

2 articles · Updated · The Guardian · Jun 1

Martin Wrigley, an MP on the Commons science and technology committee, pressed the FCA to show its 12-week Palantir trial cannot expose sensitive financial data to US authorities.
The concern centers on the US Cloud Act and other surveillance laws that critics say could reach data handled by the $375 billion US software group, even if the FCA remains the formal data controller.
The FCA says Palantir is only a processor, all trial data is encrypted, and no unencrypted information can be accessed without the regulator’s authorization; Palantir says any US request would need a warrant and could not be fulfilled without FCA involvement.
The dispute lands as UK unease grows over public-sector reliance on US AI vendors: London Mayor Sadiq Khan blocked a £50 million Palantir police deal on 21 May, while the company already holds more than £500 million in NHS England and Ministry of Defence contracts.

With US law potentially overriding UK privacy, are British financial secrets truly safe in Palantir's hands?

Is Palantir's controversial past being overlooked for its promise of high-tech crime fighting?