- Funding of Paris attacks
The November 2015 attackers paid for $32,000 worth of pre-attack operations including hotel lodging and car rentals through anonymous prepaid cards purchased in Belgium. Payments were loaded in small increments; rules for prepaid cards allow for reloading up to $2,500 without identity verification. Although the Islamic State of Iraq and Syria (ISIS) is responsible for the attacks and the training of several attackers, the precise source of the $32,000 is less clear. Money for travel appears to have become available after a stopover in Greece.
- Nuclear deal will release billions to Iran
The nuclear agreement that President Obama signed will release $100 billion to $150 billion of frozen assets to Iran, a state sponsor of terrorism. Hopefully the asset thaw will get gummed up in court while attorneys seek to collect the compensation that is owed to the victims of Iranian-sponsored terrorism first.
- Wahhabi funding monarch takes power
Saudi Arabia has crowned a new king, Salman bin Abdulaziz, who started his career in public service by bankrolling the exportation of radical Wahhabism throughout the Islamic world. We will be contending with well-funded terrorist groups for as long as men such as Salman rule Arabia.
- Coalition bombs ISIS oil fields
According to news reports, the U.S. is increasing pressure against ISIS’s financial assets by bombing oil fields in their territory. If true, the bombing means that the Obama administration has begun to recognize that it is worth destroying oil infrastructure to deprive ISIS of funding even if it means it will be harder to rebuild the infrastructure when and if ISIS retreats.
- Son of terror victim sues wire transfer company
The son of a slain Somali politician and singing star is suing the money transfer company Dahabshiil for its alleged involvement in issuing a bounty for the singer’s murder. Saado Ali Warsame had sung a song denouncing Dahabshiil as a financier of terror and a profiteer from inter-tribal conflict.
- Jihadists in Yemen fund Charlie Hebdo assassins
Al Qaeda in the Arabian Peninsula (AQAP) gave $20,000 to future Charlie Hebdo attacker Said Kouachi before he and his brother left Yemen in August 2011. The foreign funding helps explain how a group of underemployed ex-cons were able to buy AK-47s for their January 2015 attacks and pay for Said Kouachi’s international travels.
- PA and PLO owe damages for terror attacks
A jury found the Palestinian Authority and the PLO liable for terrorist attacks with American victims in the early 2000s, with damages set at $656 million in Sokolow v. PLO. A federal judge set $10 million bond while the PA and PLO appeal.
- Taliban takes control of more turf
The Washington Post reports that the Taliban has taken control or maintains a significant presence in 30 percent of Afghanistan—the most territory it has occupied since 2001. The problem with this from a financial standpoint is that the Taliban lives off the land. One of their primary sources of income is taxation on commercial activity in the areas they control. More turf means more money.
- Arab Bank settles with terror victims
Arab Bank PLC provided client services to Hamas affiliates which funded terrorist attacks against Israel. After years of lawsuits, the settlement was reached between the bank and American victims of these terrorist attacks, possibly for $1 billion. Together with the Sokolow, these cases show that legal tactics can be used effectively to hit terrorists where it hurts: their wallets.
- Debt-financing of San Bernadino attack
Syed Rizwan Farook took out a $28,000 debt consolidation loan weeks before waging an assault against his victims. This method of financing attacks is particularly popular among jihadists living in Western countries where easy credit is, well, easy.
Kenya alleges Dahabshiil employee recruited for al-Shabaab
February 25, 2016According to Kenya Media News Agency, an employee of the remittance company Dahabshiil has been charged in Kenya with recruiting fighters to join the terrorist group al-Shabaab. Abdirizak Mowlana (also spelled Mowlanaa) has been described as “deputy manager” or “assistant manager.” Dahabshiil operates in dozens of countries. Mr. Mowlana is said to have held his position in South Africa, but it is unclear whether he managed all South African operations or just one branch office. If the charges are proven, this news development would be the latest in a long line of red flags about Dahabshiil’s alleged involvement in financing terrorism–allegations which Dahabshiil has previously denied.
UPDATE 3/8/2016: Money Jihad reached out to Dahabshiil about these allegations prior to the publication of this blog post. After publication, Dahabshiil responded, “Dahabshiil has confirmed that the accused individual (if he even exists) has no connection whatsoever with Dahabshiil. For the avoidance of doubt, he is not, and has never been, an employee or an agent of Dahabshiil, or otherwise known to Dahabshiil.”
Posted in News commentary | Tagged al-Shabaab, Dahabshiil, Kenya | 1 Comment »