Charitable Organization Unexpected Source of Income for ISIS

Charitable Organization Unexpected Source of Income for ISIS
Sun Dec 6, 2015 18:38:20

The Financial Action Task Force (on Money Laundering)(FATF) has found an unforeseen source of income for ISIS. The source is a charitable organization in Italy, where thousands of people from all over Europe transferred money to help Syrian children. These funds were forwarded to Turkey falling into the hands of terrorists.

In Italy, organizing such a scam is easier than in other European countries, as the NGOs in the country are not required to account for the movement of funds in their bank accounts. FATF Executive Secretary David Lewis stated in an interview to RT that he feels the states are making insufficient efforts to block extremists’ access to the cash flows.

The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.

Here's how this scheme worked. Thousands of individuals and entities from all over Europe transferred funds to the account of a charity organization in the Italian bank thinking that the money will be donated to help Syrian children.

The money went to Turkey, and from there a recruiter for ISIS took the money and distributed it to terrorist groups.

The news that Daesh uses charity money to finance its activities is certainly shocking. However, this is not the main source of income for these terrorists.

ISIS earns millions of dollars a day by smuggling oil and artifacts, as well as extortion and hostage-taking. All this makes it the richest terrorist organization in the world, sputnik reported.


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