Let's say you send some money to a known terror organization & no, the transactions are not limited to those in the ME. They know you've sent money to the terrorist account, because they have a lawful warrant to look at that account. They take a peek at your account to see if you're sending money to any other known terrorist account or if you are receiving money from one. If you're not, there's no reason to look at your account further. If you have, they take out a secret warrant for all of your transactions. Everyone sending you money or receiving money from you then gets a peek.
If all of these transactions require a warrant, set up the full time court to take care of the flurry of paperwork. Your rights would be better protected that way, though there would a more lag time & more opportunity for bad actors to pull off their plans, before they get caught.
I'm wondering if posters here would be quite so sanguine about this subject if the story involved a US company providing identical data to the British government, or French government, or Belgian government.
If your views would be identical, then fine. If not, maybe that might give you pause for thought.