Duhaime Law releases Paper on Terrorist Financing

Highlights ISIS’ Financing Methods

Duhaime Law has released a detailed White Paper on the methods of terrorist financing used by the Islamic State (“ISIS”). The White Paper is a culmination of the firm’s review of the activities of ISIS over a 10 month period, including importantly, those activities that ISIS or its sympathizers propagate on social media that have a terrorist financing component.
The White Paper describes 12 ways that the terrorist organization engages in terrorist financing and endeavors to provide examples from ISIS’ social media campaign for illustrative purposes.

 

Executive Overview of the White Paper:

  • Describes the 3 stages of terrorist financing and recommends that financial institutions focus efforts on the “Delivery Stage,” rather than on the “Fundraising Stage”.
  • Describes how ISIS is engaged in raising funds internally and externally.
  • Focuses on new terrorist financing methods used by ISIS, such as the:
    • Sale of human beings and the reinstitution by ISIS of the practice of slavery,
    • Collection of a “life tax” on Christians to be kept alive, and
    • Introduction of a new coin-based currency by ISIS.
  • Provides recommendations for red flags to identify terrorist transactions.

Click to download –> White Paper.