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26 Aug 2014

Christie Smythe, Bloomberg

Trial starts in US lawsuit against Arab Bank over alleged complicity in terrorist attacks in Israel

"Arab Bank Accused of Turning Blind Eye to Terror Funding", 15 Aug 2014

Arab Bank Plc went on trial in New York accused of turning a blind eye as terrorists used its services to finance attacks in and near Israel. A lawyer for victims and their family members told jurors yesterday that the Amman-based lender, Jordan’s largest bank, helped Hamas during a wave of Israel-Palestinian violence in the early 2000s. The claims at issue were brought on behalf of about 300 U.S. citizens who were either victims of 24 attacks or relatives of those injured or killed...The case, the first time a bank has gone to trial on civil claims of violating the U.S. Anti-Terrorism Act, may test the extent to which which financial institutions can be held responsible for monitoring their customers. Arab Bank, which has about 600 branches worldwide, contends that it followed proper compliance procedures and checked transactions against government blacklists...


Part of the following timelines

US lawsuit against Arab Bank over alleged complicity in terrorist attacks in Israel starts; company denies allegations

Arab Bank lawsuit (re terrorist attacks in Israel)