In the first trial of its kind, a federal court said Monday that Arab Bank is liable for deaths caused by Hamas and a Saudi charity that used its accounts to reward terrorism.
A Dutch businessman agreed to pay 34.5 million euros to the Netherlands for operating First Curacao International Bank without a license, a San Antonio, TX man pleaded guilty to running an illegal money transmitter, and more, in this week's roundup.
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.
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.
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.
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.
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.