Terrorist Organizations Transfer Money Using S. African Banking System

The South African banking system is purportedly in use by supporters of the Islamic State (IS) to transfer money to the organization’s networks and affiliates across Africa. The US government has so far penalized four South African citizens it claims were involved in transferring funds to African terrorist organizations. Money Laundering in Millions According to a recent United Nations Security Council (UNSC) report, Islamic State (IS) affiliates in Africa are allegedly using the South African banking system to raise and transfer massive amounts of money. According to a report, some supporters of the terrorist network from Kenya and Uganda are reportedly gathering money in nations like South Africa. After that, the money is given to a rebel organization in the Democratic Republic of the Congo (DRC). The research stated that while the finances of African affiliates are often managed through the terror group’s headquarters in Somalia, the Islamic State is thought to coordinate transactions involving affiliates worldwide. An unnamed (United Nations) member of the state claims that South Africa has become a key hub for “facilitating transfers of cash” from the organization to its affiliates in countries including the DRC, Mozambique, and Nigeria. The UN “monitoring team is aware of several large transactions totaling more than $1 million,” the report said. According to the article, the UNSC document stated that the US government h...