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Legal Reprieve for Ohio Charity Unlikely to Ease Compliance Concerns
By Colby Adams
printDespite a legal settlement reversing sanctions against an Ohio-based charity, most banks will view the individuals once associated with the group as too risky to take on as clients, say compliance officers. Under a November agreement disclosed earlier this month, the U.S. Treasury Department lifted provisional sanctions against KindHearts for Charitable Human Development. The settlement marked a quiet about-face for U.S. officials, who accused the Toledo charity in 2006 of funneling money to blacklisted Palestinian group Hamas. Although KindHearts was never formally charged with any crime, little may change in how financial institutions treat the individuals who once ran it,...
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