Defector reveals secrets of Isis bullion hoard

As featured in Sunday Times

Countering - Daesh


Besieged by the American-backed Syrian Democratic Forces, the Iraqi army, the Kurdish peshmerga and the Syrian regime, Isis is losing taxpayers as well as oil. “Their financial situation is clearly dire,” said Tom Keatinge, director of the Centre for Financial Crime and Security Studies at the Royal United Services Institute. “But though they have lower taxing opportunities, they still control city centres. “And of course we’re taking territory from them, so the cost side of their balance sheet has reduced dramatically as well.” Though the terrorists’ finances are taking a hit, however, analysts warned this would not be enough to destroy Isis. “A reduction in finances doesn’t mean they will disappear,” Keatinge said. “People will fight for ideology, not for money.”