A pair of civil complaints relying on a Colombian insurgent group's ties to Hezbollah could prompt a rise in similar lawsuits and related subpoenas sent to banks, according to legal experts.
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.
More than a dozen lawsuits against banks that allegedly provided accounts for terrorist organizations have stalled in court over the past five years, with none yet getting a trial date, court documents show.
A federal court's dismissal of a two-year old lawsuit against five Lebanese banks for allegedly providing financial services to Hizbollah could impact lawsuits against other banks facing similar cases.
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.
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 other countries. The designations bring Israel more in line with U.S. and European sanctions regimes.
A federal ruling that equates making contributions to non-violent affiliates of terror organizations with aiding terrorist acts could mean a wave of lawsuits for charities and banks, say analysts.
Over 100 victims of Israeli terrorist attacks are suing one of China's largest banks for knowingly wiring millions of dollars to two blacklisted terrorist groups, even after Israeli counterterrorism agents commanded the institution to stop.
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.
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"
Plaintiffs charge in the lawsuit that Switzerland-based UBS knowingly provided financial services for Hamas, a Palestinian political organization blacklisted in the U.S. for terrorism since 1995. The group is purportedly responsible for 2004 bombing in Bethlehem that resulted in 11 deaths.
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.
The designation would officially block all or part of Iran's 125,000-strong Revolutionary Guard Corps, the country's elite military unit, from dealing with U.S. financial institutions.
The widow of slain journalist Daniel Pearl sued the bank, claiming it knowingly maintained accounts for two organizations tied by the U.S. Treasury Department to Pearl's 2002 kidnapping and murder.
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.