Know your customer: banks and terrorism funding

Author: | Published: 5 Mar 2018

In February, the United States Court of Appeals for the Second Circuit reversed a 2014 decision that had found Jordan-based Arab Bank liable for intentionally supporting the terrorist group Hamas. The original decision was made after the bank was tried by a Brooklyn-based jury for providing financing to the group, which has been linked to several militant attacks against Israel in the early 2000s. It was the first time in the US that a bank was held liable civilly for violating the Anti-Terrorism Act, which lets US citizens seek damages from international terrorism.

At the time, IFLR reported that the decision to try for terrorism financing would open the door for more civil cases to be brought against...