View Full Version : Islamic State Remains A Largely Self-Financed Group From Its Assets In Iraq And Syria

03-12-2015, 03:22 PM
In February 2015 the Financial Action Task Force (FATF) released a report on the Islamic Stateís (IS) funding. This was the culmination of a project that began in October 2014 to help states counter ISís financial networks. FATF found that the Islamic State is different from other terrorist organizations such as Al Qaeda and Al Nusra Front. Unlike those other groups IS does not rely upon external donations. Rather it earns most of its money based upon the conquered territory it controls in Iraq and Syria. It exploits the population and resources in those areas much like an organized crime group does with protection and extortion rackets. Some of these assets have been targeted by the U.S. led Coalition such as oil refineries, but much of it remains untouchable. Taking ground from IS will obviously cut into its money flows, but even then, since it operates like a criminal organization it will always be very hard to completely eliminate its sources of revenue.

continued (http://musingsoniraq.blogspot.com/2015/03/islamic-state-remains-largely-self.html)