US veterans file billion dollar claims against global banks over terrorist financing and sanctions avoidance and claim that the conduct continues today

Tweet Anti-Terrorism Act filing against global banks Yesterday, symbolically the day before Remembrance Day, several plaintiffs filed suit against a number of global foreign banks based in the United States under the Anti-Terrorism Act (the “ATA“), including HSBC Holdings Plc, Barclays, Standard Chartered Bank and the Royal Bank of Scotland. The plaintiffs are seeking damages that could […]

Bankrupting the banks? Historic trial may find financial institutions liable for the terrorist acts of customers

Tweet Banks and financial institutions around the world are closely watching the Linde v. Arab Bank case unfold in New York City. It’s the first civil trial against a bank for alleged violations of the AntiTerrorism Act of 1990 (“ATA“), 18 USC 2331. The litigation seeks to hold the Arab Bank, a third party, liable for injuries resulting from acts […]