ISIL financing cell in France

One of the financiers may have used his or her access to the money services business to move funds, potentially by using false names, providing incomplete information, or simply not flagging the transaction as suspicious. 

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Jessica DavisComment
Suspected Hizballah financing in Germany

The individuals are believed to have trafficked cocaine for a Colombian drug cartel and used their proceeds to purchase weapons for Hizballah. The cell is believed to have used some of the funds to purchase luxury goods like watches and jewelry worth €10 million.

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Jessica DavisComment
Islamic State continues to fundraise through kidnappings for ransom

The Islamic State has raised significant amounts of money by kidnapping and ransoming people within its area of control or influence. The group has also kidnapped foreigners and raised money through their ransom, but has also used foreigners for propaganda value in executions. The kidnapping of people in areas proximate to ongoing Islamic State control or influence will likely continue, as this lucrative source of funds provides the group with a significant financial lifeline.

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Jessica DavisComment
Job Opportunity: Research Analyst

Insight Threat Intelligence is looking for a research analyst to join our team on a part-time (contract) basis. The research analyst will be responsible for research using open sources (traditional media & social media, academic articles, blogs, etc) on illicit financing, terrorism, espionage, and intelligence analysis. 

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Jessica DavisComment
Terrorist financing in West Africa

Terrorist groups operating in West Africa make use the the economic activity (either licit or illicit) in the jurisdictions in which they are operating to make money. They participate in that activity, or they tax it to raise funds for their purposes. As with most other terrorist organizations, they use the means at their disposal to move funds, primarily through cash couriers and informal value transfer networks.

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Jessica DavisComment
Ongoing use of MSBs by ISIL

The use of Iraq-based money services businesses is a well-established funds movement technique for ISIL. The group has also used MSBs to obscure their movement of funds by having MSB operators use false names or not record or report the transactions. The most valuable MSBs for any terrorist group are those that are controlled by individuals aligned with the group, as this allows them to move and obscure funds on behalf of the terrorist organization with little effort.

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Jessica DavisComment
Al Shabaab’s well-funded insurgency

new report suggests that Al Shabaab has plenty of money to fund its ongoing insurgency and terrorist activity. A report from 2018 estimates that the group has made at least $17.5 million this year alone. Stopping a group’s ability to fundraise through territorial control is almost entirely about reducing their territorial control.

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Jessica DavisComment
Angola-based businesses funding Hizballah

The companies may be fronts for Hizballah activity, but are more likely used to generate profits through legal activity; some of the profits may be diverted to the terrorist organization.  Diversion of funds from legitimate businesses is one of the main ways that terrorist groups, including Hizballah, generate funds for their activities.

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Jessica DavisComment