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Secret details spilled on ISIS’s funding

November 14, 2014

How jihad group uses WhatsApp, oil hoses, and looted antiquities to stay solvent

ISIS using mobile apps to stay in touch with financiers
There was a time when terrorists preferred moving their money through the traditional Islamic debt transfer system of hawala, through the conventional wire services like Western Union and MoneyGram, or through a combination of both. But fears of detection led ISIS to send personal couriers and fundraisers to Europe, while staying in touch with them through text messaging and WhatsApp, as an ongoing trial against a Syrian-Lebanese man in Germany illustrates (h/t El Grillo)… more>>

Antiquity smuggling isn’t random looters, it’s an organized ISIS racket
ISIS has made over $35 million from selling historical artifacts, and now controls 4,500 archaeological sites (h/t Rushette). They justify their bulldozing and looting on the basis of khums, the traditional Islamic tax on discovered wealth (h/t Sal)… more>> and more>>

ISIS and al-Nusra smuggle oil right under the noses of Turkish gendarmes
Turkish border guards look the other way as vans filled with oil drums and tubes are laid in trenches to transfer black market oil from Syria and Iraq. A new report takes a look at the nuts and bolts of the illicit trade along with photos of how it’s done (h/t El Grillo)… more>>

Businessmen flee Mosul as ISIS breaks no-new-taxes promise
Manufacturers and small business owners in Mosul, Tikrit, and Fallujah abandon their factories to avoid making “royalty” payments to ISIS after they reneged on an earlier pledge not to tax them (h/t El Grillo)… more>>

ISIS’s coffers have been wildly overestimated, says Germany
Even using all of these revenue techniques, there’s a genuine possibility that ISIS may have bigger financial problems than previously reported. German intelligence reveals that ISIS is only to raise between 3 to 10 percent as much money from oil sales as previously reported, and that its production abilities are dwindling rapidly as oil production sites are bombed and oil technicians flee their posts (h/t El Grillo)… more>>

2 comments

  1. Reblogged this on The Counter Jihad Report.


  2. […] Money Jihad coverage of ISIS’s reliance on khums is here, here, here, and […]



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