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Islamic State ‘earning millions by playing the stock market’

The Islamic State is making millions of dollars for its war chest by playing foreign currency markets under the noses of bank chiefs, it was revealed today.

The terror group is earning up to $20m (£14.29m) a month by funnelling dollars looted from banks during its takeover of the Iraqi city of Mosul into legitimate currency markets in the Middle East.

It then makes huge returns on currency speculation, which are then wired back via unsuspecting financial authorities in Iraq and Jordan, a parliamentary committee was told on Wednesday.

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  • Spatchcocked

    While I’m losing my shirt….is this fair?

  • k1

    WOW!
    I don’t want to hear anybody say these guys are stupid!

    • canminuteman

      This sounds like crap to me. No one makes big money trading currency.