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 […]

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 […]

Israel has arrested a woman for allegedly smuggling money to Hamas. The woman, a Turkish national, was arrested at the airport in Tel Aviv on her way back to Turkey. The report provided few details about how the woman smuggled the money. It is possible that she brought  cash with her when she flew into […]

On 16 May 2018, Turkey’s state-controlled bank Halkbank’s deputy general manager (Mehmet Hakan Atilla) was sentenced following a January 2018 conviction for helping Iran evade US sanctions. He helped Iran spend oil money abroad using fake gold and food transactions as cover. The central figure in the scheme was a Turkish-Iranian gold trader  (Reza Zarrab) […]

On 10 May 2018, a network of suspected AQ-linked Italian jihadists were arrested in Sardinia and in northern Italy. Ten of the individuals detained were accused of money laundering and distributing money to the jihadists, while another four are suspected of being a support cell for al-Nusra front (Hayat Tahrir al-Sham). Funds were reportedly raised […]

In March 2018, the Israel Security Agency (Shin Bet) arrested a number of individuals in Ramallah for receiving funds from Hamas. The individuals (mostly students at Birzit University) received approximately €150,000. The funds were funnelled to the head of a Hamas-affiliated student group by Hamas member Yassin Rabia. The money is reported to have come […]

Around 2015, US-based Mohamed Elshinawy made contact with an ISIL external operative recruiter and began planning  and attack in the US. The attack plan first involved the assassination of an individual (unspecified). When it became clear that Elshinawy was unable to complete that attack, ISIL directed him to conduct a mass-casualty attack. Over the course […]

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 […]

Israel’s domestic security service announced that it arrested two individuals on suspicion of raising and laundering money for Hamas. One of the individuals is reported to have set up a shell company to assist in the laundering of funds and to have moved a large amount of money from Turkey to Gaza for Hamas. Turkey […]