Habib Bank faces charges of financing terrorism

Habib Ban is accused of “secondary liability” in a US terrorism case. According to ‘Bloomberg’, the plaintiff accused Habib Bank Limited of aiding and abetting al-Qaeda and supporting the plot of the attacks that killed or injured 370 people. The bank is liable under the Justice Against Sponsors of Terrorism Act for providing substantial assistance to international terrorism.

In three cases, the plaintiffs “substantially alleged” that the attacks were planned by a “foreign terrorist organization” such as al-Qaeda, Lashkar-e-Taiba, Jaish-e-Mohammed, the Afghan Taliban, the Haqqani Network, and the Tehreek-e-Taliban Pakistan. The judge said the plaintiffs sufficiently allege that the bank knew its customers were connected to an al-Qaida terrorist campaign directly and by proxy to allege common knowledge. According to the judge, the complaints show that the bank knowingly and opportunistically helped al-Qaida and its agents engage in terrorist activities and evade sanctions, which amounted to “knowingly aiding and abetting.”

The report added that Judge Lorna G. Schofield said the allegations were sufficient to show that Habib Bank Ltd. joined the conspiracy to attack, but the judge rejected the plaintiffs’ claims of “primary liability” because HB None of the alleged banking services provided by L were “in themselves acts of global terrorism.” Earlier in 2017, HBL had agreed to pay a fine of $225 million, the largest fine ever imposed on any Pakistani bank and imposed due to a violation of regulations. HBL also agreed to surrender its license to operate a branch in New York and close its operations there, a branch that it had been operating since 1978.

In a strongly worded statement released at the time, the New York State Department of Financial Services criticized the bank. The release said that DFS will not allow Habib Bank Limited to escape from the United States without being held accountable for endangering the reputation of the financial services industry and the security of our nation. HBL was the target of enforcement action by DFS for 53 separate violations allegedly committed between 2007 and 2017.


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