Committee Releases New Report: Cash to Chaos: Dismantling ISIS’ Financial Infrastructure
“We cannot destroy ISIS without first disrupting its funding streams”
Washington, D.C. – Despite international efforts to roll back ISIS’ gains in Iraq and Syria and choke off revenue sources, the terror group continues to excel at fundraising, according to a new report released today by Homeland Security Chairman Michael McCaul (R-TX). The report, Cash to Chaos: Dismantling ISIS’ Financial Infrastructure, shows that ISIS’ explosive growth in the past several years stems in part from its ability to control territory and generate massive revenue flows from diverse sources; indeed, ISIS’ overall strength rests on seven key funding pillars that buttress the group’s mission, organization, and operational tempo.
Chairman McCaul: “ISIS’ march across the globe is fueled not just by a hateful ideology—but by a constant cash flow. We cannot destroy the group without first disrupting its funding streams. Unfortunately, the Obama Administration has failed go after these income sources hard enough, which is why I have proposed several recommendations to put us on a path for success. Without more aggressive action, ISIS will continue bankrolling its unprecedented pace of global terror and brutality—keeping America in the crosshairs.”
The report makes a number of key findings based on extensive research and stakeholder engagement, including:
- The U.S. government lacks a comprehensive national strategy to counter ISIS and similar terror groups’ fundraising tactics.
- Many foreign countries rely on a patchwork system to share expertise and prosecute terror-related financial crimes, increasing the odds that terror financiers will slip through the cracks.
- ISIS has been able to adapt to battlefield setbacks and generate new sources of revenue to support the group’s mission.
- The U.S. government lacks clarity about the extent to which terrorist groups like ISIS are using online fundraising platforms to generate income.
- ISIS continues to receive financial assistance from supporters in permissive Gulf State countries.
Read the full report, here.