Voice of America: Islamic State on Brink of Financial Collapse, Report Finds
LONDON — The business model of Islamic State is failing, and the terror group will soon likely collapse financially, according to a detailed analysis of IS finances by the London-based International Center for the Study of Radicalization, and accounting group Ernst & Young.
Islamic State is often cited as the richest terrorist organization ever to have existed; but, the description is flawed, says report co-author professor Peter Neumann.
“IS isn’t just a terrorist organization, it is a quasi-state, which means it has territory, it has a population, and most of its income comes from that territory. It taxes people, it extracts oil, and it also loots and confiscates the property of people who’ve fled.”
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WNU Editor: The 'bean counters' usually know what they are talking about.