In France, five people are believed to have been part of a financing cell that funded ISIL in Syria and may have also provided funds to individuals seeking to travel to join the group.  The cell, made up of three men and two women, transferred funds to the Islamic State via Turkey. One of the […]

The Islamic State in Somalia is assessed to be cash poor, according to a recent report from the Hiraal Institute. The group raises money through donations (some of which may be voluntary), as well as taxation and extortion. The group focuses on larger businesses within its area of operations, avoiding taxing smaller businesses. While the […]

The Islamic State in Afghanistan has financed some of its terrorist attacks and activities in Pakistan through kidnappings for ransom. Three men were arrested in Karachi for financing the Islamic State in Afghanistan through kidnappings for ransom. The men conducted 5-6 kidnappings and sent the money to the Islamic State in Afghanistan through hundi and hawala […]

The Islamic State continues to raise money by conducting kidnappings for ransom. A recent hostage negotiation will likely net the group $27 million. The Islamic State kidnapped 30 Druze in late July. In order to secure their release, the Syrian government has agreed to release 60 Islamic State members and pay a $27 million ransom. […]

The US Department of the Treasury‘s Office of Foreign Assets Control sanctioned Afaq Dubai for the money services business’ involvement in moving funds for ISIL. The Iraq-based MSB moved money for the Islamic State as recently as 2018. The MSB is believed to be part of ISIL’s financial facilitation network that includes other MSBs, hawalas, […]

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 […]

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 […]

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 […]

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 […]

Samantha Elhassani aka Samantha Sally was charged on 22 August 2018 with providing material support to the Islamic State. She is alleged to have provided material support to the Islamic State between fall 2014 and summer 2015 by acquiring tactical gear for the group and providing funds for two individuals who joined the Islamic State. […]

A recent  report from Puntland indicates that an ISIL-aligned militant faction in Bosaso (Puntland) is raising a considerable sum of money through extortion activities. The militants are reported to be raising $72,000 per month by extorting funds from traders in the area. Extortion is a common tactic used by militant and extremist groups operating in […]

This fall, the trial of Awso Peshdary will resume in Ottawa. The terrorism trial, a rarity in Canada, will focus on Peshdary’s alleged role in recruiting, financing, and facilitating terrorism. Awso Peshdary first came to the attention of law enforcement during the 2010 investigation of  a bomb plot involving Hiva Alizadeh, Khurram Sher, and Misbahudding […]

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 […]

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 […]