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50 Val. U.L. Rev. 493 (2016)


The Islamic State of Iraq and Syria ("ISIS") is the most deadly and well-funded foreign terrorist organization in the world. There are estimates that ISIS has an annual budget of over $2 billion to finance its goal of establishing a caliphate, or Islamic state, governed by its twisted version of Islamic law.1 Flush with funds, the terror group has acquired and controls large swaths of territory in Syria and Iraq, and the threat it poses extends to Jordan, Saudi Arabia, Egypt, Libya, Yemen, Lebanon, and beyond. 2 While depriving ISIS of funding is a central component of the United States government's strategy to degrade and destroy ISIS, these efforts have been ineffective. 3 ISIS is largely self-financed, and its sources of funding are different from those of al Qaeda.4 As a result, the government needs to reevaluate and refocus its post-9/11 counterterrorist financing strategy directed at al Qaeda to effectively disrupt and deprive ISIS of funding.



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