CYIL vol. 8 (2017)

JELENA DINIC CYIL 8 ȍ2017Ȏ their tracks when preparing attacks used pre-paid debit cards because a transaction which does not exceed the amount of € 2,500 not require user authentication. 44 An considerable contribution to the financial system of ISIL is given to the system by so- called cash couriers who smuggled money through the Turkish-Syrian border to the territory controlled by ISIL. The porosity of the border and border police corruption allow cash money to find its way to ISIL through couriers, thus avoiding the barriers that exist in the financial institutions and the period of time required for the process of money laundering. Conclusion The specificity and strength of the impact of the terrorist organization ISIL is reflected in the fact that this organization possesses the characteristics of a state (territory, population and organized government) as well as modalities of financing that do not depend on external factors. The autarchic nature of the ISIL system is based primarily on finance provided through oil trade, various forms of organized crime and selling antiques. 45 Secondary forms of financing in the form of donations by individuals (i.e. microfinancing) represent additional measures and supplement the budget of ISIL, but they are also indicators of money laundering because the funds, in different ways by illegal action, are delivered to end users in the territory of ISIL or the country in which preparation for executing a terrorist attack is done. Money laundering conducted by members of ISIL is not lucrative in nature, as is the case with members of organized criminal groups, but is being implemented with the aim of concealing the purpose for which the money will be used - the preparation and execution of terrorist attacks, as well as maintenance of complex ISIL systems based on the principle of subordination. Money transfer systems such as Western Union and MBS as well as the banks that are located near the Turkish-Syrian border are under the scrutiny of financial intelligence services for the possibility of abuse by terrorists. Also, the Hawala system of money transfer is under suspicion because of the possibility that transfer of funds without administrative traces are being made which has provided anonymity to users and created conditions for the discreet exchange of money between members of ISIL. This money represents the oxygen of terrorism. 46 The frequency of terrorist attacks performed by ISIL and the cruelty of the methods used by members of this terrorist organization indicates the need for intensive cooperation between financial intelligence services at the global level with the aim of cutting financial flows aimed at the realization of terrorist activity. 8.

44 Ibid. 45 OXNEVAD, I., The caliphate’s gold: The Islamic State’s monetary policy and its implications. The Journal of the Middle East and Africa , 7(2), pp. 125-140. (2016). 46 SANDIĆ, K., “The phenomenon of terrorism financing through money laundering and the establishment of an effective system of countermeasures”, Vojno delo , no. 1 /2012, Beograd, 2012, p. 380-400.

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