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Old 06-13-2016   #52
davidbfpo
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May 2016 CTC Sentinel article by Magnus Ranstrop, on ISIS micro-financing methods in Europe:https://www.ctc.usma.edu/posts/micro...opean-recruits

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Abstract: Islamic State recruits from Europe are raising significant funds for the group through multiple microfinancing techniques within the European Union. Moneymaking schemes have included petty theft, fraudulent loan applications, social insurance fraud, and VAT fraud. A range of techniques are being employed by aspiring and active European Islamic State operatives to transfer money to the Islamic State in Syria and Iraq, including bringing money with them when they travel to join the group, withdrawing funds from money transfer businesses operating along the Turkey-Syria border, sending cash couriers, and using the hawala system. To shrink this funding pipeline, financial intelligence must be better integrated into EU counterterrorism efforts.
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