ISIS is reportedly making millions of dollars by speculating on the stock market. A new report suggests that ISIS has used some of the funds that it looted during its takeover of the Iraqi city of Mosul (including $429m from its central bank) to invest in legitimate stock markets in Islamic State. The report suggests that it is earning $20m a month from such activities. The money it makes from currency speculation is believed to be wired back to the group via unsuspecting financial authorities in Iraq and Jordan. Unsurprisingly, this form of revenue has become one of its main sources, alongside earnings from oil smuggling, and taxes on individuals living in areas that fall under its control.
ISIS is reportedly making millions of dollars by speculating on the stock market. A new report suggests that ISIS has used some of the funds that it looted during its takeover of the Iraqi city of Mosul (including $429m from its central bank) to invest in legitimate stock markets in the Middle East. The report suggests that it is earning $20m a month from such activities. The money it makes from currency speculation is believed to be wired back to the group via unsuspecting financial authorities in Iraq and Jordan. Unsurprisingly, this form of revenue has become one of its main sources, alongside earnings from oil smuggling, and taxes on individuals living in areas that fall under its control.