Scary: Islamic State Fighters Using Bitcoin To Fund Terror
Virtual currencies such as the Bitcoin are either being used by the foreign fighters of the Islamic State (IS) or are in the process of being used, says a report by the Financial Action Task Force (FATF). Founded in the year1989, the Paris-based FATF is an inter-governmental body which works on measures that may help in combating the flow of funds to the terrorists. In its latest report, titled "Emerging Terrorist Financing Risks," it has pointed out that the Bitcoin and other cryptocurrencies pose a serious threat. Further, the report gave an example of a US national, who was sentenced to....
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Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused of facilitating the transfer of funds to African terror groups. Millions of Dollars Laundered A new United Nations Security Council (UNSC) document alleges affiliates of the Islamic State (IS) in Africa are using the South African financial system to mobilize and launder millions of dollars. As per a....
The Islamic State (IS) might be trying to use bitcoins to fund its operations. According to a well-respected journal, Foreign Policy, the US government should try the same in the fight against IS. An individual called "Abu Ahmed al Raqqa" appealed to supporters of the Islamic State to send funds to the militant group in bitcoins to expand its "caliphate" in Internet messages posted last May. The messages were posted on the darknet. IS has used online propaganda to further its cause, in particular with social media and other marketing blitzes to gain attention. As Washington Post writes of....
News that Bitcoin can be tied to the Islamic State circulated on the internet in the wake of the Paris attacks. European Union leaders even held a so-called "emergency meeting" on virtual currencies themselves, reportedly investigating how to better control the currency. To be sure, evidence that the Islamic State uses Bitcoin in any significant manner is non-existent, the claims specious at best. Researcher Nicholas Weaver, from the Berkeley-based International Computer Science Institute, is aware of no evidence that the Islamic State uses Bitcoin. "There was a recent material support....
National security experts have raised the alarm bells over the "IS-NEWS #01" NFT, which is being seen as the first case of an NFT created and shared by a “terrorist sympathizer." The first known case of a nonfungible token (NFT) created and shared by a “terrorist sympathizer” has come to light, raising concerns that the immutable nature of blockchain tech could help the spread of terrorist messages and propaganda. In a Sept. 4 article in The Wall Street Journal (WSJ), intelligence experts said the NFT could be a sign that Islamic State and other terror groups may also be using blockchain....
Israeli authorities have identified a cluster of crypto addresses they say moved about $1.5 billion in Tether (USDT) that is connected to Iran’s Islamic Revolutionary Guard Corps. Related Reading: UAE Steps Up Global War On Crypto Crime – Details According to reports, the National Bureau for Counter Terror Financing (NBCTF) of Israel flagged 187 wallet […]