Arab Bank Found Liable for Hamas Terrorist Attacks

[Valin]

Bloomberg:

Erik Larson and Christie Smythe

Sep 22, 2014

 

Arab Bank Plc, the biggest lender in Jordan, helped Hamas militants carry out a wave of violence in Israel that killed and wounded hundreds of Americans, a New York jury decided in the first trial of its kind in the U.S.

 

The Amman-based lender did business with more than 150 Hamas leaders and operatives in the early 2000s, helping finance about two dozen suicide bombings and other attacks, jurors decided today in federal court in Brooklyn, New York.

 

The case highlights the ways banks can play a role in funding terrorist groups and the extent to which they can be held responsible for monitoring their customers, even those who aren’t on government lists of terrorists. Credit Lyonnais SA and Bank of China Ltd. are facing similar cases in the U.S., alleging they served as conduits for terrorism financing.

 

“The significance of this trial and verdict cannot be overstated” said David Miller, a former Manhattan prosecutor who worked on terrorism cases and isn’t involved in the bank lawsuit.

 

(Snip)

 

H/T Tarek Fatah