Supreme Court of Canada dismisses extradition appeal of alleged terrorist financier

Extradition Appeal Dismissed The Supreme Court of Canada today refused an appeal by Suresh Sriskandarajah from the Ontario Court of Appeal upholding an order for his extradition to the United States to face charges of terrorist financing and money laundering.

Terrorism victims can sue American banks over correspondent relationships with terrorist organizations

The New York Court of Appeals ruled this week that the use of a New York bank account by a listed entity (an entity identified as a terrorist one) is sufficient to establish jurisdiction for American victims of the listed entity’s terrorist activities to claim compensation. The bank in question is a Beirut bank with […]

HSBC accused of lax anti-money laundering compliance

HSBC investigation The U.S. Permanent Senate Subcommittee on Investigations has found that HSBC Holdings PLC allowed drug traffickers, terrorists and rogue states to launder billions of dollars in the U.S. as a result of poor anti-money laundering (“AML“) and counter terrorist financing (“CTF“) controls. The Subcommittee found that HSBC serviced high-risk clients in drug-trafficking countries with […]

U.S. Attorney files complaint against Lebanese Canadian Bank in trade-based money laundering case

The U.S. Attorney has filed a money laundering complaint commencing an in rem forfeiture action against the Lebanese Canadian Bank and others, seeking penalties of US$446 million in connection with what it says was a money laundering scheme operated by the Bank. The action is one of the first trade-based money laundering cases. As part of the alleged […]

Two Somali foreign nationals in the US convicted of terrorist financing

Two Somali women, who became US naturalized citizens, were convicted today in federal court in Minnesota of terrorist financing for providing material support to al-Shabaab, a listed terrorist entity in both the US and Canada. The two women collected funds from Somali foreign nationals in Canada and the US during a three year period and […]

Canada appeals decision staying extradition of Khadr to Supreme Court of Canada

The Canadian government has applied for leave to appeal a decision staying the extradition of Abdullah Khadr to the Supreme Court of Canada. In May of this year,  the Ontario Court of Appeal upheld a lower court decision staying Khadr’s extradition. The Canadian government is arguing that it’s ability to comply with international obligations could […]

Ontario Court of Appeal upholds extradition of former refugee accused of terrorism and money laundering in U.S.

The Ontario Court of Appeal has upheld an order extraditing Suresh Sriskandarajah, also known as “Waterloo Suresh”, to the U.S. to face allegations of terrorist financing and money laundering. Sriskandarajah is a Sri Lankan former refugee who immigrated to Canada twenty years ago. He was arrested in 2006 as a result of a joint FBI […]

Khadr pleads guilty to supporting terrorism

Omar Khadr has pleaded guilty to multiple charges for his role in a battle with coalition troops in Afghanistan, including murder, attempted murder, supporting terrorism and spying. Khadr admitted to throwing a grenade on July 27, 2002, that killed Sgt. Christopher Speer after a four-hour firefight between al Qaeda affiliated forces and U.S. military forces, […]

U.S. introduces new anti-terrorism reporting regulations for cross-border transactions

The U.S. Financial Crimes Enforcement Network (FinCEN), has published proposed regulations that would require banks and money services businesses to report cross-border electronic transfers of funds (called CBETFs). Banks would have to report all CBETFs of any amount to FinCEN within five days. Money services businesses would be required to report amounts of US$1,000 or […]

Ontario court reserves judgement on extradition of suspected terrorist and money launderer

Suresh Sriskandarajah, also know as “Waterloo Suresh,” a Sri Lankan refugee to Canada being sought by the U.S. on terrorism and money laundering charges, is free on bail while the Ontario Court of Appeal decides whether to allow his appeal of a decision by the Ontario Superior Court of Justice granting an order committing him […]