Restricting Daesh’s access to finance and funding
The Global Coalition is engaged in a comprehensive campaign to disrupt Daesh’s ability to generate revenue - and access the regional and international financial systems. Together, the Coalition’s 74 members are working to restrict Daesh financing across Iraq and Syria in order to prevent the terrorist group from raising, moving and using these resources to pay for fighters and fund terrorism around the globe.
Over the past three years, the Coalition has struck around 30 Daesh banks and financial centres, destroying tens of millions of dollars. Strikes on more than 25 bulk cash storage sites have erased tens of millions – and possibly hundreds of millions – of Daesh’s liquid assets.
Made up of nearly 40 members and observers, the Coalition’s Counter-Daesh Finance Group is leading global efforts to ensure full implementation of the multiple United Nations Security Council resolutions that prohibit all forms of financial support to Daesh, including funds raised from kidnapping for ransom, illicit trade in stolen cultural heritage objects, and sale of natural resources.
The Coalition is working to prevent Daesh from providing financial or material support to its branches as it seeks to expand its global ambitions in the wake of territorial losses in Iraq and Syria. As Daesh adapts, the Coalition will adapt with it, leveraging collaboration with like-minded multilateral organisations and encouraging members to take more concrete actions against Daesh financing.