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Accounts and Accountability: Arab Bank Found Liable for Transactions Under the Anti-Terrorism Act

On September 22, 2014, a Brooklyn jury found Arab Bank, Jordan’s largest lender, guilty of violating the U.S. Anti-Terrorism Act for providing financial services to individuals and entities linked to Hamas…This is the first jury verdict to impute civil liability to a bank for its alleged role in financially transacting with alleged members or affiliates of a designated terrorist organization…The Arab Bank verdict could represent a serious threat to international financial institutions, triggering them to beef up their compliance beyond mere screening to more in-depth due diligence of their customers and transactions, especially in risky parts of the world.

Part of the following stories

As Arab Bank prepares to appeal decision under US anti-terrorism law, legal experts examine lawsuit's implications for financial institutions

Arab Bank lawsuit (re terrorist attacks in Israel)