Iraqi justice sentences ISIS financier to life imprisonment

Shafaq News/ According to Iraq’s Supreme Judicial Council, the Central Criminal Court on Sunday sentenced a person to life imprisonment for financing the terrorist organization ISIS

“The convict financed the terrorist organization ISIS with amounts of money through a company that brokers the sale and purchase of foreign currencies, with the intention of laundering money and financing terrorist operations,” the council’s media center said in a statement today, adding: “ The sentence was passed on the basis of the provisions of Article 37 of the Penal Code.”

About Article 37

Article 37 of Iraq’s Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015 emphasizes the importance of international cooperation in combating financial crimes. It gives Iraqi authorities the opportunity to share information and cooperate with foreign countries and international organizations on matters related to money laundering and terrorist financing. The article also facilitates Iraq’s participation in investigations, investigations and trials related to these crimes, while allowing for mutual legal assistance and the enforcement of foreign court judgments in accordance with Iraq’s local laws and international agreements.

How is ISIS financed in Iraq?

ISIS in Iraq was funded through a combination of illegal activities including extortion, smuggling and looting. One of ISIS’s main sources of income was its control of the oil fields, where it smuggled oil and sold it on the black market. In addition, ISIS levied taxes on the local population in the areas it controlled, collected ransom money from kidnappings, and engaged in the theft and sale of antiquities. The group also engaged in arms smuggling and human trafficking, and at times received external financial support from sympathizers abroad, further fueling its activities. While ISIS has lost much of its territorial control, sleeper cells continue to rely on extortion and smuggling to maintain their financial resources.

ISIS has also benefited from external sources of funding, primarily donations from individuals and organizations worldwide. Supporters of extremist networks have provided financial resources to sustain the group’s activities. Additionally, foreign fighters who joined ISIS often brought funds with them, further strengthening the group’s financial standing. ISIS has also benefited from external sources of funding, primarily donations from individuals and organizations worldwide. Supporters of extremist networks have provided financial resources to sustain the group’s activities. Additionally, foreign fighters who joined ISIS often brought funds with them, further bolstering the group’s financial capabilities.