U.S. Courts Have Ruled Against The 'Arab Bank' Finding Them Liable For Financially Supporting Terrorism

Arab Bank Liable For Supporting Terrorist Efforts, Jury Finds -- New York Times

A federal jury on Monday found Arab Bank liable for knowingly supporting terrorism efforts connected to two dozen attacks in the Middle East, the first time a bank has ever been held liable in a civil suit under a broad antiterrorism statute.

Arab Bank, a major Middle Eastern bank with $46 billion in assets, was accused of knowingly supporting specific terrorist acts in and around Israel during the second Palestinian uprising of the early 2000s.

The verdict is expected to have a strong impact on similar legal efforts to hold financial institutions responsible for wrongdoing by their clients, even if the institutions followed banking rules, and could be seen as a deterrent for banks that conduct business in violent areas.

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More News On The U.S. Courts Ruling Against The 'Arab Bank' By Finding Them Liable For Financially Supporting Terrorism

Arab Bank Found Liable for Hamas Terrorist Attacks -- Bloomberg
Arab Bank found liable for supporting Hamas and must compensate victims -- The Guardian
Arab Bank liable over Hamas attacks -U.S. jury -- Reuters
Arab Bank Found Liable for Providing Assistance to Hamas -- WSJ
US Jury: Arab Bank Liable Over Hamas Attacks -- VOA
Arab Bank found liable by US court in Hamas attacks -- BBC
Breaking: Arab Bank Found Liable for Funding Hamas Terror -- The Tower
US jury finds Arab Bank liable for backing terrorism -- AFP
Jury Holds Arab Bank Liable For Aiding Hamas Terrorists -- Forbes

My Comment: This is going to hurt the Arab Bank and will serve as a warning to other financial institutions that there are consequences for knowingly providing a a financially based support mechanism for those who support terrorism. The ramifications of this ruling will be profound.