6 Shocking Ways ISIS Raises Money For Terrorist Attacks

Screen capture c/o Youtube.

One of the reasons that the terrorist group ISIS, which has been behind so many tragic attacks lately, is so hard to take down is because of how well-funded the group is. Seeming to have come from nearly nothing in the last decade or so, ISIS now manages to rake in hundreds of millions of dollars every year.

So, how are they doing it? Let’s take a look at the 6 main sources that the terrorist group draws their funding from.

1. Running bank scams

One of the sources of income used by ISIS is bank scams. There are two main ways that they do this; one is by using fraud, such as fraudulent loan applications, and the other is through the help of complicit bank employees themselves. The fraudulent loan applications have been particularly a key source of funds for UK jihadists who are looking for money to pay for their journey to Syria.

2. Selling valuable artifacts

ISIS has become almost as famous for destroying priceless architectural treasures throughout the middle-east as they are for their terrorist activities. However, not everything gets destroyed: the group has also been keen to loot many precious antiques and artifacts which frequently end up for sale on the London Market.

3. Private donations

Of course, with as many supporters as ISIS has throughout the world, donations are also a large source of income for the terrorist group. The Gulf states are particularly notorious for their big-ticket donations to the terrorist group.

Once the donations are raised, they are transferred through a series of small amounts. It is done in such small amounts that identification is not needed to be given, and the donors manage to avoid raising questions.

4. Ransoming hostages

While both Britain and the United States have strict policies of not negotiating with terrorists and refuse to pay ransoms to these groups, many other European nations have paid to see their hostages come home safe. This means that these nations have inadvertently become sources of funds for terrorist groups like Al Qaeda and ISIS.

Income through ransomed hostages is believed to have raised as much as $45 million in a period of a year for ISIS.

isis hostages

Screen capture c/o Youtube.

5. Oil fields

Now that ISIS has control over so much territory in the middle eastern countries, they have also gained control over many lucrative oil fields throughout Syria and Iraq.

The terrorist group is believed to be making as much as $600 million per year from the oil trade, which is why Britain has decided to focus their air strikes on ISIS’ oil fields in an attempt to disrupt their funding.

6. Taxation

Taxation is thought to be the number one source of income for ISIS. Control over territory gives the group not only control over the oil fields, but also the ability to tax residents and businessmen that are within the territory. Charging import taxes, rent for businesses, fines for law-breaking, utility bills, and income taxes have brought in as much as $900 million per year for ISIS.

Read also: British Fighter Jets Bomb ISIS Oil Fields – Destroys ISIS Source Of Income.

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About the author

Janessa is a gamer, a bookworm, an animal lover and a self-proclaimed foodie. She is passionate about everything that she does and hopes that it will come across in her writing.