Don’t undermine International Terror Outfit “ISIS” –It is one of richest terror groups, earns $1 million a day by selling oil. reports AFP The Islamic State has fast become one of the worlds wealthiest terror groups, generating tens of millions of dollars a month from black market oil sales, ransoms and extortion. It earns $1 million a day alone by selling crude oil from fields captured when the group swept across Iraq and Syria earlier this year, said David Cohen, treasury undersecretary for terrorism and financial intelligence. Because the group, also known as ISIS, or ISIL, has amassed wealth at an unprecedented pace from different sources than most terror groups, it presents a particular challenge to the US working to choke off money flows. We have no silver bullet, no secret weapon to empty ISILs coffers overnight. Unlike al Qaeda, IS does not attract most of its funds from deep-pocketed rich donors, often in Gulf countries, or from state sponsors. The group has also pocketed about $20 million this year from kidnappings, particularly of journalists and European hostages.
Posted on: Fri, 24 Oct 2014 08:59:56 +0000
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