UKC

I note that Cameron has resolved to try and cut off funding for terrorist organisations

http://www.bbc.co.uk/news/uk-34829546

I have to say that I do find the issue of funding a bizarre one. In a world where governments are clamouring over themselves to spy on everyone, the banking system seems somehow off limits. Is the banking system not a closed system? Is it really so immune to government intervention?

It seems that whether you are a terrorist organisation or a bloke trying to scam grannies out of their savings, the electronic trail left in the banking system is off limits to law enforcers.

In reply to ByEek:

I don't think it is off limits at all in the West, I suspect they can get your transaction info very easily.
There are huge numbers of Anti Money Laundering and sanctions controls in western banking, the problem is areas of the world where they play fast and loose partially to pull in such business or so large corporations can hide assets.

In reply to Mr Trebus:


So if that is the case, why is it seemingly so easy to take money off grannies and what are IS using to pay for their extensive weaponry?

In reply to ByEek:

Didn't IS get lots of weapons from the Iraqi army?

Aren't they selling oil from Iraqi and Syrian refineries?

In reply to ByEek:

It's all just posturing. Western governments are already doing everything in their power to cut off terrorist funding for years. Since 9/11 even the Americans have been on board.

Leaders have to be seen to be doing something, and announcing measures they are taking already is an easy option.

In reply to ByEek:

Just watched a video by Le Monde (if you understand French: https://www.dailymotion.com/video/x2vjz8a_comprendre-la-domination-de-l-eta... explaining that IS mostly funds itself through:

-agriculture (grain, cotton): they control one of the breadbaskets of the Middle East in Northern Syria
-oil: they've seized a number of oilfields in Syria and Iraq
-looting, taxes
-sale of antiquities that transit through Turkey
-sale of entire populations that they've enslaved
-ransoms

(in no particular order)

In reply to Adrien:

-and big fat bundles of cash from the Saudis?

In reply to Graeme Alderson:



Yep - the UK was one of the main proponents of trading oil out of rebel-held Syrian areas to help rebels against Assad. Further funding and resource comes from Saudi.

In reply to Oldsign:


and Qatar, if not the actual governemnt then certainly from powers within.

And don't forget that Israel has been patching up their soldiers.

Why doesn't anyone (governments, not us on here) ever ask, who is buying their oil & grain and who is selling them hardware for social and military infrastructure. I strongly the answers would be very unpalatable.

This is Saudi/Israel/The West vs Iran/Russia, and the Parisians, the Lebanese and all the rest of us who will get killed in the coming random attacks are just collateral damage.

In reply to ByEek:

https://en.wikipedia.org/wiki/Hawala

This kind of thing helps them move money round.

In reply to Graeme Alderson:
IS makes $3M per day in crude oil sales? I think they may even supply the Syrian army.

Makeshift refineries are bombed but nobody wants to bomb the oil wells.