ISIS becomes world’s richest militants group

According to the reports the Islamic State has become the world’s richest terror outfit, earning $1 million per day from selling crude oils, ransoms and extortion.

The group which swept across Iraq and Syria earlier this year, has “amassed wealth at an unprecedented pace”

David Cohen, Treasury undersecretary for terrorism and financial intelligence, US has said, “We have no silver bullet, no secret weapon to empty ISIL’s coffers overnight. This will be a sustained fight, and we are in the early stages.”

“With the important exception of some state-sponsored terrorist organisations, ISIL is probably the best-funded terrorist organisation we have confronted,” Cohen added,

IS’s “primary funding tactics enable it today to generate tens of millions of dollars per month,” he said.

Some reports suggest that the group has already collected about USD 20 million this year through kidnappings.
(Input from AFP)

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