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U.S. Iraq Veterans, Families Sue Banks Over Militant Attacks

U.S. veterans and relatives of soldiers killed in Iraq have sued five European banks they claim processed Iranian money that allegedly was used to finance attacks.

A lawsuit combining the claims of more than 200 people was filed in a New York court on November 10 under the 1992 U.S. Anti-Terrorism Act.

It names Barclays Plc, Credit Suisse Group AG , HSBC Holdings Plc, Standard Chartered, and Royal Bank of Scotland Group Plc.

The lawsuit claims that the banks violated sanctions imposed on Iran by disguising the movement of money wired through the United States to Iran.

It alleges about $100 million was channeled by Iranian banks to insurgent groups in Iraq.

The plaintiffs include relatives of a soldier killed in 2007 by insurgents they claim were armed, trained, and funded by a unit of Iran's Revolutionary Guards.

Based on reporting by Reuters, AFP, and "The Guardian"

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