I would imagine that there are Muslims all aound the world, while not wanting to join ISIS physically, send plenty of money to ISIS for them to achieve their aims.
Crowdfunding: Islamic State’s Secret Financial Weapon – Analysis
BY GEOPOLITICAL MONITOR DECEMBER 9, 2015
By Balasubramaniyan Viswanathan
Islamic State is touted as being the richest terrorist group in the world, with an estimated annual earnings of over a billion dollars. Like other terrorist groups, these earnings are derived from criminal activities – extortion, looting, and kidnap for ransom – as well as commercial activities like trading in oil, antiquities, and agricultural products. And if recent trends in their financial activity are any indication, Islamic State has revolutionized terrorism financing by merging technology and marketing to effectively draw donations from a large groups of people – a practice known as crowdfunding.
According to the Financial Action Task Force (FATF), Islamic State has started to rely on grassroots funding and has utilized efficient delivery mechanisms to obtain funds through the latest technologies. Islamic State has long been known to harness the power of technology, which has increased the reach and impact of its propaganda exponentially. This is the key element which has driven Islamic State’s crowdfunding model, which facilitates even a large group of ordinary citizens to contribute to the Islamic State’s coffers.
Continue reading at:
Crowdfunding: Islamic State’s Secret Financial Weapon – Analysis
Crowdfunding: Islamic State’s Secret Financial Weapon – Analysis
BY GEOPOLITICAL MONITOR DECEMBER 9, 2015
By Balasubramaniyan Viswanathan
Islamic State is touted as being the richest terrorist group in the world, with an estimated annual earnings of over a billion dollars. Like other terrorist groups, these earnings are derived from criminal activities – extortion, looting, and kidnap for ransom – as well as commercial activities like trading in oil, antiquities, and agricultural products. And if recent trends in their financial activity are any indication, Islamic State has revolutionized terrorism financing by merging technology and marketing to effectively draw donations from a large groups of people – a practice known as crowdfunding.
According to the Financial Action Task Force (FATF), Islamic State has started to rely on grassroots funding and has utilized efficient delivery mechanisms to obtain funds through the latest technologies. Islamic State has long been known to harness the power of technology, which has increased the reach and impact of its propaganda exponentially. This is the key element which has driven Islamic State’s crowdfunding model, which facilitates even a large group of ordinary citizens to contribute to the Islamic State’s coffers.
Continue reading at:
Crowdfunding: Islamic State’s Secret Financial Weapon – Analysis
