The US Department of the Treasury’s Office of Foreign Assets Control has publicly confirmed that ISIL in the Philippines received money from ISIL supporters for its activities. This designation package also names a Somalia-based livestock-trading company as a front for ISIL and  a Turkey-based company involved in the procurement of UAV components. These international connections come as no surprise to experts following ISIL’s financing networks. They do serve to confirm the international nature of the organization while also raising questions about Turkey and the Philippines’s knowledge of ISIL’s activity ,or at the very least the strength of their AML/CFT regimes.

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Category

Compliance, ISIL, Terrorist Financing, Uncategorized

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