This is an age-old question, and one that will never be answered, I'm afraid. Is it better to give up privacy rights for the sake of better communication and collaboration between law enforcement agencies? How is this different than local police creating their own database of case files? What does it mean to have the right to privacy? These are questions that have never fully been answered, I'm afraid. The first problem is that the US Constitution currently does not , and yet it's the one right that we constantly want protected.
The other problem is that, even if the Constitution guaranteed the right to privacy, it would only guarantee that right to it's citizens. If someone chooses to break the laws governing the citizenry, they are then rejecting the citizenry. Does that mean that they are no longer citizens? Socrates felt so, as outlined in Plato's The Apology of Socrates. But is that so? Has that been determined? I am unaware of any court case or legislation that guarantees the citizenship of convicted criminals, nor of any that revokes their citizenship.
I think the first thing that needs to be done with regards to privacy concerns is to amend the constitution to allow for the right to privacy. Once this is complete, then the privacy advocates will have a platform on which to base their objections that is rooted within the Constitution. From there, other concerns can be addressed, such as the citizenship status of convicted criminals.
That being said, I support any collaboration between law enforcement agencies in protecting the citizenry, and do not see any abuses that have not already been in place since Government has been in place. The question is, are there any statistical evidence to support the collaboration in the apprehension and conviction of law breakers vs. the eventual mistakes and abuses that are feared?