The U.S. Court of Appeals for the Second Circuit will soon consider a lower court ruling that denied a claim made by terror victims against Iranian funds on the grounds they had been moved out of the United States. In July 2014, families of victims of the 1983 bombing of a U.S. Marine Corps barracks in Beirut sued the Iranian government, Deutsche Borse AG subsidiary Clearstream Banking SA, Rome-based Banca UBAE and JPMorgan Chase for keeping $1.68 billion in U.S. dollar-denominated proceeds they say is rightfully theirs under a 2007 summary judgment awarding the families $2.65 billion. The plaintiffs made...
A ruling by a U.S. District Court dismissing a case against a Jordanian bank accused of supporting Hamas won't likely resolve whether banks are liable for the terrorist actions of clients they no longer serve.
A U.S. District Court judge's decision this week to allow a jury to assume that a Jordanian bank knowingly processed transactions funding suicide bombings could galvanize separate lawsuits targeting banks.
A ruling against National Westminster Bank in a lawsuit claiming it knowingly provided services to terrorists could make financial institutions reluctant to openly endorse anti-money laundering standards or best practices that are not legally binding, compliance consultants say.
Families of suicide bombing victims say a U.S. judge's decision allowing a class-action lawsuit against a Middle Eastern bank sends a clear message that financial institutions can be held accountable for terrorist acts committed on foreign soil.