Earlier this week, a jury in Brooklyn found that Arab Bank, a large, Jordan-based financial institution with branches in thirty countries, knowingly supported terrorist activities during the second Palestinian intifada (which lasted from 2000 to 2005), and was therefore legally responsible for compensating American victims of Hamas-sanctioned terrorist attacks. This is the first time that a bank has been successfully sued in a civil trial under the Anti-Terrorism Act of 1990, a law that made it easier for victims of foreign terrorist organizations to sue for compensation. And it’s the latest in a series of cases that has made it clear that financial institutions, even when they seem to be following the rules, can still end up in trouble because of their clients’ actions.

posted by thenewgreen: 1794 days ago