ISIS uses remittance companies to obtain money, says iraqi judicial council
The Iraqi Higher Judicial Council released a report on Wednesday (May 10) saying that the Islamic State (ISIS) is using remittance companies and selling goods to the Iraqi market in order to create funds. The judicial council report also said security forces had detained a number of ISIS militants who were responsible for ISIS finances in the country. A number of investigative prosecutors told the judicial council that a number of the detainees worked in the group finding methods to receive money. The judicial council said ISIS receives money from rich people in neighboring countries through remittance companies. “A large amount of the money which is sent through remittance companies is transmitted to Baghdad”, the report added. “A person who receives the money says the money has been transferred to him to buy houses, cars or refineries. It is repeated twice a month”. The report also stated that ISIS is receiving money through indirect ways such as selling goods to the Iraqi market to obtain money. The goods are traded cheaply so as to be sold rapidly. The report comes after ISIS loses territories it captured in the country during its swift advance in 2014. The militant group is now facing a big loss after Iraqi forces liberated the eastern side of Mosul in February.