Anti-money laundering laws meant to bankrupt terrorists may now be used to put banks out of business, reports CI Top Broker.

Read: Big banks dominate Canadian M&A

The U.S. Federal Court recently found the Arab Bank liable for providing banking services to terrorists. That bank may have to pay hundreds of billions of dollars in damages, says CI Top Broker.

It’s the first time a bank has been declared liable for supporting terrorism, simply by providing banking services.

Read more here.

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