Recent reports suggest that the Taliban is able to raise $400 million each year to finance its governance and terrorism activities. The Taliban raises funds in a variety of ways such as through the taxation of the opium trade, through taxation and extortion, as well as control of mines and mineral extraction. The group also […]

The US Department of the Treasury has sanctioned two Hizballah financiers, Shibl Mhusin ‘Ubayd Al-Zaydi, and Adnan Hussein Kawtharani. Al-Zaydi served as a financial facilitator between IRGC-QF and armed groups in Iraq. He has facilitated investments in Iraq on behalf of the IRGC-QF Commander  Qasem Soleimani, and  has coordinated the smuggling of oil from Iran.  […]

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. […]

Recent analytic work conducted by GIABA and FATF has revealed trends and typologies of how terrorists in West Africa finance their activities. Terrorists finance their activities through trade, non-governmental and charitable organizations, taxation, through criminal activities such as the smuggling of weapons, and drug trafficking. They move their funds through cash couriers, as well as […]

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 […]

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 […]

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 […]

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 […]

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 […]

Assets owned by the Barakat clan have been frozen by Argentina following suspicious transaction reporting from Casino Iguazu.  The Argentinian casino reported that individuals would convert cash into chips and back again. The Barakat clan is believed to have crossed into Argentina from Brazil for the purposes of laundering their money through the Casino in […]