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Thursday, October 13, 2016

Follow the money

Report: US Must Address Massive Revenue Streams Funding ISIS

US efforts to curb the explosive growth of the Islamic State of Iraq and Syria (ISIS) will be futile if the nation fails to address the diverse revenue streams fueling the terrorist organization, according to a new report released by Homeland Security Chairman Michael McCaul (R-TX).

The report, Cash to Chaos: Dismantling ISIS’ Financial Infrastructure, is based on a ten-month investigation by the House Homeland Security Committee Majority Staff to identify and examine ISIS’ revenue sources and US efforts to counter terrorist financing.

The Committee explored seven key funding pillars: black market oil and gas; black market commodities; antiquities; extortion, taxation, and robbery; kidnapping for ransom; assistance from supporters in permissive Gulf State countries; and emerging fundraising tactics, such as crowdfunding.

“ISIS’ march across the globe is fueled not just by a hateful ideology—but by a constant cash flow,” McCaul said. “We cannot destroy the group without first disrupting its funding streams. Unfortunately, the Obama Administration has failed go after these income sources hard enough, which is why I have proposed several recommendations to put us on a path for success.”

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