Evolutions & adaptations in terrorist financing
Thinking through cryptocurrency use cases & indicators
A few weeks ago, I was asked if I thought terrorists were storing funds in cryptocurrency. It was an interesting variation on the crypto question that I’m usually asked — whether terrorists are raising or moving funds through crypto. I don’t think we’ve seen any evidence of this to date, but the question is certainly worth pondering. Here, I’ll walk through some potential use cases, identify groups that are more likely to do this than others, consider likely cryptocurrency assets that terrorists might hold, and what indicators we might see to suggest that this is happening.
In case you missed it earlier this week, we took a close look at an informal crowdfunding network raising funds (including cryptocurrency) that was recently disrupted.
Did you know that our courses on Terrorist Financing Analysis and the Financing of January 6th are available through the Thinkific mobile app? This means that you can take your learning with you wherever you are, and upgrade your skills and knowledge from the convenience of your phone or tablet. And later this year, we’re launching a new course on financial intelligence & investigations, and it will also be available on mobile! Sign up today to start learning:
Crypto Storage Use Cases
When terrorists are planning attacks, they need to acquire funds. They might do this by engaging in criminal activity, or by getting funds from a terrorist organization, donations from friends and identity-support networks, or by self-financing the attack. Most attacks cost around $40,000, so rarely require really large sums of money. (Some attacks cost as little as $0, and as much as $850,000, but these are outliers.)