Posts Tagged ‘Arab Bank’

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Terror finance progress: suggested news reading

April 23, 2015
  • Judge denies Arab Bank’s request to throw out a verdict against it… more>>
  • The feds have busted 5 people and 4 companies for illegal shipments to Iranmore>>
  • The U.S. passes Saudi Arabia in oil production and is poised to become energy independent in 4 years… more>>
  • A Hamas treasurer has reportedly been arrested… more>>
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Arab Bank liable in Hamas money case

October 6, 2014

Litigation can help bankrupt terrorist groups by discouraging banks from providing them with account services. While banks like HSBC have gotten a lot of attention for weak compliance programs, there are some banks—particularly Gulf-based and sharia banks—that have purposefully funded terrorist groups out of shared sympathies or backscratching arrangements with the ruling monarchies. Jordan’s Arab Bank is one of them. Note that in this case, as in almost every other high-fatality terrorist operation in the past 20 years, a Saudi front charity is involved.

From ACAMS MoneyLaundering.com:

By Colby Adams and Kira Zalan

In the first trial of its kind, a federal court said Monday that Arab Bank is liable for deaths caused by Hamas and a Saudi charity that used its accounts to reward terrorism.

A jury in the Eastern District of New York ruled in the decade-old case that the Amman-based financial institution should pay the families of individuals killed by Hamas in reparation for providing banking services to the group’s leaders and facilitating payments to relatives of suicide bombers.

Using Arab Bank accounts, the Saudi Committee in Support of the Intifada Al Quds offered the payments as a reward to the families of any Palestinian terrorist, regardless of group affiliation, according to the plaintiff’s attorneys, who said the program functioned with the financial institution’s consent…

Arab Bank will appeal.

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Terror payola news: recommended reading

October 2, 2014
  • 300 plaintiffs would have their health or loved ones back if it hadn’t been for Arab Bank and the money they handled for Hamas, a jury finds… more>>
  • Qatar gave $15 million to the institute that keeps a key U.S. negotiator for peace in the Middle East on its payroll.  The summary in Latin is quid pro quomore>>
    (h/t Europe News)
  • The smoke clears on the history of Hezbollah‘s cigarette smuggling in North Carolina with the publication of Lightning out of Lebanonmore>>
    (hat tip El Grillo)
  • The Israel-Gaza rocket war was triggered by a $61.5K contract killing of three Israeli teenagers ordered by Hamas… more>>
  • Treasury’s top authority on the subject says, “Qatar, a longtime U.S. ally, has for many years openly financed Hamas”… more>>
  • On Hamas’s recent bank robbery of $750,000 from the Bank of Palestine in Gaza City… more>>
    (h/t El Grillo)
  • Ukraine lists 172 Russian citizens & 65 Russian companies to be sanctioned “for financing terrorism”… more>>

 

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Terror finance frontal assault: recommended news reading

September 7, 2014
  • The Turkish Islamic front charity behind the illegal Gaza flotilla has just inked a pact with Qatar. What could go wrong?  More>>
  • After Egypt shut down Sinai smuggling tunnels, Hamas became desperate for cash. So it launched its rocket war against Israel with a global shakedown in mind… more>>
  • How Arab Bank transferred millions of dollars from Middle East “charities” to Hamas’s “martyrs”… more>>
  • Poorly informed Pentagon spokesman is concerned about Qatar’s support for terrorism only “if the reports are true”…more>>
  • ISIS poses an economic threat to the U.S….more>>