South Africa has emerged as an important centre for 'facilitating transfers of funds' from the group to its affiliates in Africa. moneylaundering
Sympathizers of the terror group, the Islamic State are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused of facilitating the transfer of funds to African terror groups.
The report said while the Islamic State is believed to direct transactions that involve global affiliates, funding of African affiliates is normally handled by the terror group’s office in Somalia. Nevertheless, according to an unnamed member of the state, South Africa has emerged as an important center for “facilitating transfers of funds” from the group to its affiliates in places that include the DRC, Mozambique, and Nigeria.
According to the report, the United Nations “monitoring team is aware of several large transactions totaling more than $1 million.” The UNSC document according to the report, reveals that the United States government has so far sanctioned four people residing in South Africa whom it accuses of using the country’s financial system “to facilitate funding for ISIS branches and networks across Africa.
Meanwhile, the UNSC document also claimed that both the Islamic State and al-Qaeda might be seeking to receive donations in the form of cryptocurrencies.Tags in this story
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