Department of Reporting Terrorism Financing

Department of Reporting Terrorism Financing

The Department works on and reports the Financing of Terrorism pursuance of the UN General Assembly Conventions for the Suppression of Financing of Terrorism, 1999. Most recently, the terrorist groups such as Islamic State in Iraq and the Levant or sometimes referred to as ISIS) has garnered attention for its unique funding streams. Generating capital by way of bank robbery, pirating oil fields, and robbing other economic assets, ISIL has access to approximately a half billion dollars’ worth of financing.

As with most terrorist organizations, the actual acts of terrorism are relatively low-cost compared to the damage they inflict; however, the operational costs of sustaining an organization are significant.

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