Israel's Security Cabinet designated 35 groups linked to al-Qaida and the Taliban as terrorists. They are the first of many new sanctions aimed at global terrorist groups that focus their attacks on countries other than Israel. The designations broaden existing sanctions in place against Palestinian-based Hamas and Lebanon-based Hezbollah and extend them to other groups associated with alleged terrorist groups and their supporters. The designations bring Israel more in line with U.S. and European sanctions regimes. The sanctions allow Israel to go directly after suspected al-Qaida and Taliban groups, foes of the international community, said Kenneth Rijock, a financial crime...
Israeli lawyer Itsana Nitsana Darshan-Leitner, who represents victims of terrorism in lawsuits against banks, spoke recently with Fortent Inform reporter Brian Orsak about the suits and what banks should be doing to better monitor for terrorists attempting to exploit the financial system.
Israel Discount Bank said costs related to an anti-money laundering compliance settlement with the U.S. government have escalated to nearly $56 million, or more than twice the size of a regulatory penalty assessed against the institution in 2005.
Compliance costs tied to two civil money penalties totaling $20.5 million reached more than $30 million and could go higher if federal regulators determine the institution illegally allowed transactions linked to Iran, according to a third quarter filing by the bank.