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Outlining Plan to Degrade Islamic State’s Funding, Treasury Warns of Co-Opted Banks
By Kira Zalan
printU.S. efforts to disrupt Islamic State funding will focus on blacklisting its leadership, penalizing entities that help the group reap illegal profits and identifying co-opted bankers in Iraq and Syria. The strategy will entail blacklisting entities that facilitate oil sales, funnel charitable donations and demand ransoms for the organization, known as ISIL, said Under Secretary for Terrorism and Financial Intelligence David Cohen, in a speech Thursday. U.S. officials are also working with Iraqi counterparts and others to prevent the group from exploiting "scores" of bank branches in territory it controls, he said. "It's a difficult problem because our interest is...
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