Cherson & Molschky: ISIS Financing, Money Laundering and Bank Culpability

According to an article in the Lebanese newspaper, The Daily Star, there is less vigilance on the part of American and European banks than Arab banks when it comes to ISIS.

Since the terror group, which President Obama once called the “junior league,” has grown to the point where it needs a great deal of money in order to operate in the large areas under its control, the United States urges banks to prevent ISIS from channeling money through their financial systems.

The US has requested that new measures be taken by banks, and the Secretary General of the Union of Arab Banks, Wissam Fattouh, told the newspaper that Arab banks have fulfilled that request and are taking every precaution necessary…