October 17, 2021

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ISIS finances the return of terrorists to Europe

ISIS finances the return of terrorists to Europe

  • Today, Thursday, ElPeriodico, citing sources in the National Police, said that the objective of ISIS is currently to remove the fighters from the areas where they have failed and transport them to Europe.
  • Small but numerous payments are made to ISIS in Europe and received in Syria and Iraq using a non-bank trust-based money transfer system, the so-called hawala (Arabic: rasal). It is based on personal relationships between the intermediaries involved in the transaction, the so-called hawala
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Transactions are made after accepting cash at the broker and entering the password. The broker immediately orders the money to be paid to the password provided in another country, by contacting, for example, via an entry on a social network. According to Spanish police sources, Hawaldar currently earns between 5 and 10 percent. Commission for the transfer of funds from Spain to the Islamic State.

The funds between intermediaries are not immediately compensated, and the debt is settled when the sum of payments and withdrawals is balanced. In the event of significant differences and temporary financial difficulties, Hawala Banks cover the shortcomings of legal parallel business activities and use their network of international carriers.

The most important feature of the hawala system is the speed of transfers, anonymity, the ability to transfer any amount, and the absence of any procedures or documents. It is difficult to estimate the amounts transferred through Havala without the control of states and financial institutions, as there are probably billions of dollars around the world. The hawala is completely invisible to the official banking system. Transactions are not controlled by anyone and senders and recipients are unknown.

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The operation of the Spanish National Police, launched in June 2020, against the financing of jihad in the country is still ongoing. Three people were arrested and an unofficial money transfer system was found in Spain. It is not known how many people make small donations which have proven to be the most effective method of financing jihad.

El Perodico said that ISIS will once again take its fight to Europe, but this time it is bringing militants with military experience into conflict areas.

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