American Report Reveals Hidden Funds and Gold by ISIS in Iraq and Syria
American Report Reveals Hidden Funds and Gold by ISIS in Iraq and Syria
An American journalistic investigation has uncovered the presence of funds, gold, and precious metals hidden by the terrorist organization ISIS in various regions of Iraq and Syria during the final stages of its territorial collapse, noting that tens of millions of dollars of these assets have been recovered over the past years.
A report published by the American magazine, “Newlines,” based on a joint investigation, internal documents, and interviews with researchers and informed sources, stated that as the organization lost its controlled areas, it resorted to concealing part of its financial resources in order to preserve them for future use in funding its cell activities.
According to the investigation, various security and military entities in Iraq and Syria, along with international coalition forces, have managed to recover money, gold, and valuable assets estimated to be worth tens of millions of dollars, while it is believed that another part of these resources remains missing.
The report highlighted that the investigation relied on more than 200 records and financial and security documents related to the organization, which showed that the concealment of funds was not merely an individual or random act, but rather part of arrangements made by the organization to preserve its resources after losing control over the cities and areas it managed in Iraq and Syria.
The investigation indicated that the discovery of several of these funds came during security operations or based on information provided by detainees and former members of the organization, whereas some were found incidentally in areas where ISIS had previously been active.
Researchers interviewed by the report’s authors believe that the organization’s shift from controlling vast geographical areas to operating through small cells compelled it to change its methods of managing financial resources, increasingly relying on decentralized financial networks to maintain its ability to fund its activities.
The report further noted that during its years of control over vast areas of Iraq and Syria, ISIS had seized large financial resources from banks and institutions, in addition to generating revenues from oil, minerals, agricultural lands, and illicit trade, making it, at its peak, one of the wealthiest terrorist organizations in the world.
The results of the investigation suggest that the recovered funds may exceed some previous international estimates of the amount of cash assets retained by the organization following the collapse of its territorial control. Specialists warn that undiscovered financial resources may continue to support the organization’s cells in funding their activities.
The report refocuses attention on the financial aspect of combating ISIS, emphasizing that the efforts are not limited to security and military operations but also include tracking down its sources of funding, assets, and financial networks to prevent their use in rebuilding its capabilities or supporting its cell activities in Iraq, Syria, and other regions.
