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Iraq
Islamic State 'earning millions by playing the stock market'
2016-03-04
[Telegraph] Isil is making millions of dollars for its war chest by playing foreign currency markets under the noses of bank chiefs, it was revealed today.

The terror group is earning up to $20m (ÂŁ14.29m) a month by funnelling dollars looted from banks during its takeover of the Iraqi city of Mosul into legitimate currency markets in the Middle East.

It then makes huge returns on currency speculation, which are then wired back via unsuspecting financial authorities in Iraq and Jordan, a parliamentary committee was told on Wednesday.

Islamic State of Iraq and the Levant's (Isil) extraordinary venture into white collar crime is now a major source of income, along with oil smuggling and extortion from people living in Isil-controlled areas.
Posted by:Besoeker

#9  I wonder if ISIS practices BDS or the opposite?
Posted by: g(r)omgoru   2016-03-04 12:41  

#8  If they're using my financial adviser they're DOOMED !

Bet there are more than a few of the better 'fiscal advisers' in the ME (or PAKland) who would jump at the chance to 'help' the process using their already established underground currency trading techniques (think how Baathists, AQ, Talibunnies, Hizbully, IRG etc. play the markets). They get their commissions, ISIS gets the laundered cash.

The Raqqa folk don't need to be smart about the markets, they just need smart 'friends' who are.
Posted by: Mullah Richard   2016-03-04 12:32  

#7  Cattle Futures. They earn big returns, I'm told
Posted by: Frank G   2016-03-04 12:21  

#6  Raj called it--the notion that they're magically spectacular currency traders is bullshit.
Posted by: Crusader   2016-03-04 11:02  

#5  I love the smell of bullshit in the morning...
Posted by: Raj   2016-03-04 10:42  

#4  If they're using my financial adviser they're DOOMED !
Posted by: Besoeker   2016-03-04 09:41  

#3  Yeah, SWHC.
Posted by: swksvolFF   2016-03-04 09:40  

#2  Damn eTrade
Posted by: Frank G   2016-03-04 09:02  

#1  They might get a job replacing our worthless fund managers
Posted by: BernardZ   2016-03-04 07:14  

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