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 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 […]

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 […]

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). […]

On 15 May 2018, the US Department of the Treasury‘s Office of Foreign Asset Control announced new sanctions against the governor of the Central Bank of Iran, the chairman and CEO of Al-Bilad Bank (Iraq), and a Hizballah financier. According to OFAC, Valiollah Seif, the governor of the Central Bank of Iran facilitated the movement […]