ISIS is Running Out of Money, and They Need to Expand to Keep it Going

The ISIS group is relying too much on its oil exports and it needs to gain more territories if it wants to keep its reign of terror going, says a new report.
ISIS is Running Out of Money, and They Need to Expand to Keep it Going
A fighter from ISIS takes position in a destroyed in Damascus, Syria, on Sept. 22, 2014. Rami Al-Sayed/AFP/Getty Images
Jack Phillips
Jack Phillips
Breaking News Reporter
|Updated:

ISIS is relying too much on its oil exports and it needs to gain more territories if it wants to keep its reign of terror going, says a new report.

The group, known as the Islamic State in Iraq and Syria, has funded its operations by seizing oil fields, theft, kidnappings, extortion, and may even be dabbling in organ harvesting. The group also exploits NGOs and charities in the region.

According to the Financial Action Task Force (FATF), ISIS has to expand “in order to maintain its financial management and expenditures in areas where it operates” in attempting to explain the group’s projected strategy. The Financial Action Task Force is comprised of government officials around the world and is based in France.

Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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