American Express Bank and Lebanese-Canadian Bank
On July 14, 2008, Shurat HaDin and Attorney Robert Tolchin of New York filed suit against American Express Bank accusing it of a role in transferring money for Hizbollah. The action was filed in the New York State Supreme Court in Manhattan.
Representing some 85 victims and their family members, the Shurat HaDin law suit alleges that the American Express Bank, Ltd. and the Lebanese Canadian Bank (LCB) unlawfully executed millions of dollars in wire transfers for Hizbollah between 2004 and 2006. The plaintiffs assert that Hizbollah used the funds transferred by Amex Bank and LCB to prepare and carry out the rocket attacks which the terrorist organization rained on Israeli cities between July 12 and August 14, 2006.
The plaintiffs rested their claims in part on written findings issued by the New York State Banking Department in 2007, which determined that Amex Bank had failed to establish adequate procedures to prevent terrorism financing as demanded by state and federal law. This was the first lawsuit brought by victims of terrorism against a U.S. financial institution, alleging that they served as a correspondent for a bank in Lebanon.
Read more about this topic: Shurat Ha Din, Prominent Cases
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