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Two ‘Major’ U.S. Banks May Face Lawsuits Claiming They Support Terrorism, Says Israeli Lawyer
printIn the world of banking, where much rides on reputation, no institution wants to be called an accomplice to terror. But at least six non-U.S. financial institutions have been sued by families of terror victims over services that the banks allegedly provided to terrorist organizations such as Hamas, Hizbollah and al-Qaida. The argument: processing a transaction for a group tied, even indirectly, to terrorists means you're civilly liable for subsequent acts of terror. Shurat Hadin, an Israel-based legal firm, has spearheaded a number of these lawsuits, including one filed last month against Swiss bank UBS for allegedly processing transactions for...
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