For an indication of how difficult it can be to identify terrorism funding, even for federal investigators, read the previously-classified 28 pages of a congressional report on the Sept. 11 attacks.
A decision by the U.S. Second Circuit Court of Appeals affirming sanctions against Jordan's largest bank for not turning over data on suspicious accounts could leave some financial institutions with an unwanted choice, say attorneys.
An opinion by New York State's highest court could reanimate lawsuits against foreign banks alleged to have maintained accounts for blacklisted terrorist groups, even when the institutions have no physical U.S. presence.
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.
The dismissal last month of a $500 million civil lawsuit against UBS AG for allegedly contributing to terrorist attacks won't impact rulings on similar lawsuits against other banks, say analysts.
The number of lawsuits against banks accused of providing financial services to designated terrorist groups may increase by more than fourfold this year, say terrorism analysts and attorneys.
A group of 90 American, Israeli and Canadian citizens are suing American Express Bank and Lebanese Canadian Bank for $650 million, alleging the institutions provided financial services to blacklisted terror group Hizbollah.
Four Canadians are suing the Montreal branch of Lebanese-Canadian Bank, alleging that the institution knowingly provided financial services to Hizbollah, an organization blacklisted internationally for terrorism.
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.
Swiss bank UBS faces its second civil lawsuit in five months for allegedly processing transactions tied to Middle Eastern terrorist organizations. Plaintiffs in the suit say the bank should pay no less than $500 million for providing financial services to Iran, a "state sponsor of terrorism"
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.