Report

rss

Iraq News

Kurdistan

Economy

World

All News

ISIS still has millions and changes its funding strategy to "distributor"

Category: World

Date: 2019-11-21T12:11:30+0000
ISIS still has millions and changes its funding strategy to "distributor"

Shafaq News/ ISIS funding will likely shift from a "centralized" funding system in Iraq and Syria to a largely "distributing" system following the killing of its leader Abu Bakr al-Baghdadi, a U.S. official said.

"The organization still has access to millions of dollars," said Marshall Billingsley, U.S. Assistant Secretary for Terrorist Financing
of U.S. Department of the Treasury.

Speaking to reporters after attending a meeting in Luxembourg focused on fighting ISIS, he said he expected the group's financial operations to shift "from the central model in Iraq and Syria to a much more regionally based approach" in an effort to accommodate the death of its leader.

Baghdadi was killed in a raid by U.S. Special Forces on his hideout in northwestern Syria.

Billingsley predicted that the Islamic State would rely on "its various regional bodies for greater self-sufficiency", particularly through ransoms from kidnappings, extortion and even theft of cows in Nigeria, where it has a presence.

Representatives of countries within the coalition, formed to counter the financing of ISIS under the name of "ISIS Financing Group", participated in the Luxembourg meeting.

The coalition, led by the United States, Italy and Saudi Arabia, welcomed two new members, Malaysia and Thailand. The coalition meets twice a year in different locations that are not announced in advance.

On Monday, the U.S. Treasury added eight companies and individuals in Turkey, Syria, the Gulf and Europe to the sanctions list after being accused of providing financial support to the extremist organization.

related

Kurdish authorities in northeastern Syria to hand over Dutch citizens affiliated with ISIS to the Netherlands

Date: 2021-06-05 05:45:02
Kurdish authorities in northeastern Syria to hand over Dutch citizens affiliated with ISIS to the Netherlands

Turkey conducts a major operation against ISIS in Istanbul

Date: 2020-10-22 06:10:11
Turkey conducts a major operation against ISIS in Istanbul

Three Taliban fighters killed, fingers pointing at ISKP

Date: 2021-09-28 15:39:44
Three Taliban fighters killed, fingers pointing at ISKP

Syrian national army clashes with ISIS in Idlib and Asayish in Qamishli

Date: 2021-01-05 20:50:57
Syrian national army clashes with ISIS in Idlib and Asayish in Qamishli

Russia: Hundreds of ISIS elements fled northeastern Syria since Turkish operation started

Date: 2019-10-23 09:50:49
Russia: Hundreds of ISIS elements fled northeastern Syria since Turkish operation started

New Zealand slams Australia for stripping IS detainee of citizenship

Date: 2021-02-16 07:26:06
New Zealand slams Australia for stripping IS detainee of citizenship

Turkey arrests 40 suspects on charges of financing ISIS

Date: 2021-06-18 11:52:18
Turkey arrests 40 suspects on charges of financing ISIS

Militant Islamists behead more than 50 in Mozambique

Date: 2020-11-10 14:52:43
Militant Islamists behead more than 50 in Mozambique