A new report suggests that Al Shabaab has plenty of money to fund its ongoing insurgency and terrorist activity. A report from 2018 estimates that the group has made at least $17.5 million this year alone. The group primarily makes money from taxation of illicit charcoal, estimated to generate  $7.5 million in taxes for the […]

The Islamic State is far from bankrupt. The group may have lost the majority of its territory, but it likely anticipated this eventuality and prepared financially. The group is reported to have stashed millions across the region through investments in companies in Iraq, the purchase of gold in Turkey, and the transfer of millions to […]

According to recent reports, Angola has developed a  “reputation as a refuge for international terror financiers,” specifically Hizballah.  Hatem Barakat and Kassim Tajideen are accused of using Angola as a terrorism financing hub. The two individuals were recently arrested in South America and Morocco. However, their companies continue to operate in Angola. The companies were […]

Cyber actors are reported to have committed financial crimes on behalf of North Korea, raising money for the country’s ballistic missile and nuclear programs. DPRK is believed to have generated $1.1 billion from this activity, and $100 million in 2014 alone. In February 2016, the country’s cyber actors executed a cyber attack on the SWIFT […]

Israeli security services have disrupted a Hamas financing scheme that used trade to move value into West Bank and Gaza Strip.   In the scheme, a senior Hamas figure used his financial exchange business to contract Gaza businessmen, persuading them to work with him in exchange for financial benefits. Textile merchants appear to have been […]

According to a recent article, DPRK is increasingly using cryptocurrencies to evade sanctions and gain access to foreign currency, specifically US dollars. Previous reports have indicated that North Korea has stolen cryptocurrency as part of its efforts to evade international sanctions. Lourdes Miranda and Ross Delston have stated that North Korea is creating its own […]

PayPal has closed the account of Germany-based International Alliance, an NGO that is reported to sympathize with the Popular Front for the Liberation of Palestine (PFLP). On 1 September 2018, the German bank Sparkasse Witten also closed the account of International Alliance. The PFLP is currently a listed terrorist entity in several countries including Canada […]

The US Department of the Treasury has sanctioned two individuals involved in money transfers to ISIL members. Syria-based dual US-Trinidadian national Emraan Ali served as a financial facilitator for ISIL members. He received funds from Trinidad and distributed them to Trinidadian ISIL fighters. Some of those funds appear to have originated with Eddie Aleong, a Trinidad-based […]

Several companies have been designated by the US Department of the Treasury for their role in helping North Korea fund its nuclear weapons and ballistic missiles programs.  DPRK is believed to have earned revenues from overseas information technology workers, and some of those funds have helped finance North Korea’s proliferation activities.  One DPRK operative used […]

  The UK’s foreign intelligence service believed that Michael Foot, a British Labour party politician, was a paid information of the Soviet Union.  He was not considered to be a spy or conscious agent. Instead, he was used for disinformation purposes in return for the equivalent of £37,000 in today’s money. The disbursements to Foot […]

Waleed Ahmed Zein has been designated by the US Treasury for his role in financial facilitation for ISIL. Zein developed an international financial network to facilitate funds transfers for ISIL. He used hawalas and intermediaries to conduct and obscure the transactions. His network had links into Europe, the Middle East, Americas, and East Africa. Between […]

Standard Chartered bank is under additional scrutiny for its relationship with Iran. The bank, which was previously fined twice in relation to sanctions evasion, is now under investigation for facilitating payments for firms based in the UAE trading with Iranian counterparts. In 2007, the bank paid a $300 million fine for a flaw in their […]

A suspected Dutch jihadist affiliated with ISIL, known only has “Mohammed G”, is believed to have been involved in the kidnapping of a British couple in South Africa.  Mohammed tried to use the woman’s credit card in an attempt to buy Bitcoin.  Mohammed was part of a cell of other individuals who wanted to raise […]

In order to combat a significant source of Taliban funds, the US has undertaken 9 months of airstrikes against opium production sites in Afghanistan. The Taliban is believed to earn hundreds of millions of dollars every year in the opium trade, accounting for approximately 60% of the group’s revenues. According to US sources, to date, […]

The US designated 4 companies and individuals for assisting Divetechnoservices, a Russian sanctioned entity, to evade sanctions. The companies and individuals provided a number of services to Divetechnoservices. The sanctioned individuals and entities are:   Vela-Marine Ltd. Marina Igorevna Tsareva  Anton Aleksandrovich Nagibin Lacno S.R.O.  Lacno was sanctioned for attempting to facilitate a payment of […]