The Commission wishes to draw licensees’ attention to the current military action in Iraq and the associated funding of the extremist insurgency group, Islamic State in Iraq and the Levant (“ISIS”).
Reports indicate that in addition to private donations and traditional criminal activity in that region such as robbery and extortion, ISIS has been funding itself through oil trading and the smuggling of antiquities which have been seized during the advance through Iraq. It is suggested that this trading and smuggling has taken place through neighbouring countries such as Syria and Turkey.
In view of these reports, the Commission urges licensees to be particularly vigilant if confronted with any transactions associated with this region, particularly those relating to the above referenced activities. Any suspicious activity should be reported to the Financial Intelligence Service in the usual manner.