Servicemembers who were subject to Iranian-sponsored terrorist attacks in Iraq have been seeking compensation for themselves and their families through an anti-terrorism bank lawsuit.

By the time a terrorist attack happens, many hands have contributed to making it happen. An important facet of a terrorist attack is the funding that it receives. Additionally, terrorist plots and their funding will have to involve the use of the banking system, much like anyone else to make any wire transfers or letters of credit.

Some of the people affected by overseas acts of terrorism have sought recourse against several international banks accused of contributing to these acts by helping to finance them.

In an anti-terrorism bank lawsuit, filed in 2014, a group of injured Iraqi war veterans raised that question. This group of Gold star families filed a civil lawsuit against seven banks based in the European Union.

The anti-terrorism bank lawsuit seeks damages based on these seven banks’ alleged involvement in terrorist plots. The plaintiffs seek to hold the banks responsible for helping the government of Iran to finance shootings and roadside bombs.

According to the plaintiffs’ allegations in the anti-terrorism bank lawsuit, the banks “conspired” and hid financial transactions by processing money from Iran to hide these transactions from the United States. The U.S. had imposed sanctions on Iran in 2006, after it refused to suspend its uranium enrichment program.

The anti- terrorism bank lawsuit charges the seven EU banks of channeling more than $100 million to Iranian military operatives in Iraq. They allegedly helped facilitate the funding of terrorist acts in Iraq between the years of 2003 and 2011.

Some of the banks have allegedly already admitted to the alleged financial assistance, seeking to avoid prosecution for processing money through their financial institutions and violating sanctions set forth by the U.S. against Iran and other countries. They allegedly agreed to $3.2 billion in payouts to the United States government.

According to a report published by Global Radar, moreover, these financial institutions’ alleged disregard for sanctions “has led to the enforcement of severe monetary penalties against businesses” by the OFAC, or Office of Foreign Asset Control, through the Department of the Treasury.

According to the report, the U.S. Department of Treasury announced that “in 2014 a total of 23 penalties were issued to financial institutions in response to multiple violations found in their sanctions programs, totaling a whopping $1,209,298,807 USD.”

Allegedly, moreover, the largest total hit was issued to BNP Paribas SA totaling $963,619,900 USD. This was allegedly issued due to 3,897 sanction regulation violations which pertained to several countries overseas.

According to the report, in several years leading up to and including 2012, BNP Paribas SA, “processed thousands of transactions to or through U.S. financial institutions that involved countries, entities, and/or individuals subject to multiple sanctions programs”’ for countries including Iran, Cuba, Burma, and Sudan.

If you or a loved one was injured or killed by an IED or EFP while fighting in the Iraq or Afghanistan wars, legal recourse is available. Get help now by filling out the form on this page for a FREE case evaluation.

The attorneys who work with Top Class Actions will contact you if you qualify to let you know if an individual lawsuit or anti-terrorist class action lawsuit is best for you. (In general, anti-terrorist lawsuits are filed individually by each plaintiff and are not class actions.) After you fill out the form, the attorneys who work with Top Class Actions will contact you if you qualify to let you know if an individual lawsuit or class action lawsuit is best for you. Hurry — statutes of limitations may apply.

Learn More