An attorney for the Hamas attacks victims alleged Arab Bank PLC to have moved millions of dollars for Hamas, an Islamist group, where the money was likely utilized to fund violence.
The issue came at the outset of the first trial in the United States in a terror-financing suit against the financial institution.
Shand S. Stephens, the bank’s attorney, said Arab Bank is dependent on the United States and other governments to identify terrorists and do transaction checks against blacklisted figures.
Arab Bank couldn’t have known it was financing Hamas terrorists, who brought out the attacks since they never showed up in the government blacklist.
Victims sued the bank in 2004, claiming it had knowledge of routing compensation payments from Saudi donors to families of Hamas suicide operatives and offered monetary services to Palestine organizations that were completely controlled by the terrorist group.
Attorneys for the victims said they intend to prove to the jury records of transactions that happened the bank’s NY branch.