McCaul releases report detailing plan to cut ISIS revenue sources

ISIS continues to excel at fundraising despite American efforts to cut off the terrorist group’s revenue sources, according to a report released by U.S. Rep. Michael McCaul (R-TX) on Thursday.

McCaul, the chairman of the House Homeland Security Committee, oversaw a 10-month investigation that used briefings, meetings, official and open-source documents, as well as media reports to identify the funding pillars that support ISIS.

“ISIS’ march across the globe is fueled not just by a hateful ideology — but by a constant cash flow,” McCaul said. “We cannot destroy the group without first disrupting its funding streams. Unfortunately, the Obama administration has failed go after these income sources hard enough, which is why I have proposed several recommendations to put us on a path for success.”

The report found that the U.S. government lacks a comprehensive national strategy to counter ISIS, that foreign countries use a patchwork legal system to share information and prosecute terror-related financial crimes, and that the U.S. government lacks clarity on the extent of online fundraising used by groups like ISIS.

“Without more aggressive action, ISIS will continue bankrolling its unprecedented pace of global terror and brutality — keeping America in the crosshairs,” McCaul said.

The report identified gaps in global law enforcement and counterterrorism activities and concluded that the United States should take the lead in establishing institutions, training expertise and resources to implement targeted sanctions.

“In this environment, it is important to build close relationships with foreign law enforcement and counterterrorism authorities, and work with them to close gaps,” the report states. “Properly trained law enforcement personnel and investigators can spot broader trends and know local communities and businesses, which can help U.S. officials combat cross border crime in areas such as trafficking in cultural antiquities. More importantly, the United States and foreign partners must work together to combat ISIS’s global reach.”