The Russian intelligence officers accused of hacking in the Democratic National Committee and Hillary Clinton’s 2016 presidential campaign used bitcoin to finance their operations. The hackers used more than $95,000 to purchase computer servers, register website domains and pay for other “unspecified hacking activities”.  They used some of their bitcoins to pay for the registration […]

A procurement network operated by the Islamic State used a number of front companies to procure the drones and other material. At one point, the Islamic State was spending ‘thousands of dollars a month’ on drone equipment. Around 50 commercial entities from 20 countries were involved in the supply chain of components used to construct improvised explosive […]

An Irish man has been jailed for terrorist financing offences. In January, he admitted to providing €400 to an individual in Bosnia-Herzegovina ultimately intended for the Islamic State. The funds were sent using a Western Union money transfer. Analysis: While sending funds to a financial facilitator in Bosnia-Herzegovina may seem circuitous in terms of getting money to the […]

Israel has arrested a woman for allegedly smuggling money to Hamas. The woman, a Turkish national, was arrested at the airport in Tel Aviv on her way back to Turkey. The report provided few details about how the woman smuggled the money. It is possible that she brought  cash with her when she flew into […]

The PKK is believed to be using Europe as a base of logistics and weapons procurement, according to the Europol 2018 report on terrorism. The PKK has also raised money through drug trafficking, migrant smuggling, human trafficking, fuel and cigarette smuggling, extortion, kidnapping for ransom, and money laundering. The organization is also reported to use […]

The UK’s National Terrorist Financial Investigation Unit, a part of the Metropolitan Police’s Counter Terrorism Command, has successfully prosecuted a woman for terrorist financing offences. Officers traced a payment of £1,500 made in January 2015 to Khranjit Nijjer’s husband, a suspected fighter with ISIL in Syria. The investigators were able to find evidence that she was […]

According to a recent report, terrorist groups including Al Qaeda and ISIL are increasingly turning to Bitcoin to finance their activities. The authors cite several examples, including: The tech talk section of Al-Haqiqa, a pro-Al Qaeda English-language magazine, released in February 2018, examined the permissibility of using Bitcoin and other cryptocurrencies to fund their activities; […]

Global Witness reports that the Islamic State in Khorasan Province (ISKP) may be profiting from mining activities in Afghanistan. The report provides an overview of the possible extractive activities that ISKP may be engaging in in Afghanistan, primarily mining of talc, chromite, precious and semi-precious stones, tourmaline, and possibly emeralds. Prior to being taken over […]

US airstrikes are targeting more than Taliban fighters – they’re now going after the group’s fundraising activities. About 113 US airstrikes have targeted Taliban revenue, directed primarily against opium production and roadside taxes. Most of the airstrikes have been aimed at labs that process opium. These airstrikes are part of a new US strategy aimed […]

Effectively implementing sanctions against North Korea has been a difficult proposition. Despite sanctions, North Korea continues to raise foreign exchange to pay for imports from China. Part of the reason for this difficulty is that the country’s trade and finance networks operate unofficially, largely outside the detection capabilities of regulators, which in turn is partly due to […]

Belgian authorities have discovered than around €200,000 was transferred to Belgians fighting with the Islamic State in Iraq and Syria. No timeframe for the transfers was given, but the money is reported to have come primarily from friends and family of the foreign fighters. Funds were transferred  through money services businesses (Western Union was specifically named). […]

According to a US indictment, Abdullahi Ahmed Abdullahi has been charged with providing material support to terrorists. The RCMP arrested Abdullahi on 15 September 2017 following a US extradition request. According to the US indictment, “Abdullahi committed an armed robbery of a jewelry store for the purpose of financing the travel and efforts of co-conspirators […]

According to the Iranian Parliament Research Centre, problems between Iranian and foreign banks is non-sanction related. The research centre writes that Iranian banks are lagging behind their Basel III requirements, specifically regulation, supervision, risk management, and the implementation of basic AML/CFT requirements. The research centre also pointed out that Iran lacks strong supervisory institutions in the […]

The DPRK uses a variety of schemes to circumvent sanctions and obtain the goods and services it requires. Recent reports reveal the details of one such procurement network in Malaysia. North Korean operatives abroad are known to engage in international trade in order to generate cash and obtain goods. Ri Jong Chol was one such […]

In another designation by the US Department of the Treasury, Mohammad Ibrahim Bazzi and Abdallah Safi-al-din were listed as specially designated global terrorists. Bazzi was designated as one of Hizballah’s top financiers, and for his link to drug dealers and is alleged to have laundered money to fund terrorism. Bazzi is also reported to have […]