Jury Finds Arab Bank Liable For Supporting Terrorism

A jury has found Jordan-based Arab Bank liable for supporting terrorism in connection to a wave of suicide bombings in the early 2000's that left several Americans dead or wounded.

American victims of terrorist attacks in Israel had sued Arab Bank in 2004. They accused the institution of knowingly funneling cash payments from Hamas to the families of bombers from Gaza and the West Bank.

The case marked the first time a bank has faced a trial under the Anti-Terrorism Act. The law allows victims of U.S.-designated foreign terrorist organizations to seek compensation.

New York Times reporter Stephanie Clifford says this could put pressure on banks to be more diligent when vetting their customers.

"It's a huge change because the bank's defense was that it followed proper compliance procedures and checked all of these transactions against proper terrorism lists and basically, this verdict says that's not enough," Clifford says.

Lawyers representing Arab Bank say they are confident the decision will be overturned.