Terrorist funding threat strains banks' CTF systems

Millions of dollars a day are flowing to the terrorists of Isis, and the struggle to stop them is putting new emphasis on the importance of transaction monitoring and other counterterrorism financing measures

The rise of the Middle Eastern insurgent group Islamic State in Iraq and Syria (Isis) is testing banks' anti-terrorist financing capabilities. The Islamist group has access to funds obtained from oil and other sources and is proving successful in financing the overseas training and travel of foreign jihadis. This raises the question of how it is transferring money. The possibility that it is using western banks and money remitters needs to be considered. Such organisations are thought to be in