Subscribe to FDD

An arm of al-Qaeda has reaped tens of tens of millions to finance assaults in Africa

Yaya J. Fanusie
1st January 2018 - Quoted by Kaplan Herald

An affiliate of al-Qaeda that has executed several attacks across Africa — and is considered the organization‘s wealthiest branch — is sitting on millions of dollars in ill-gotten gains that help fund its deadly activities across the region, a new report said.


According to a new analysis by the Foundation for Defense of Democracies‘ Center on Sanctions and Illicit Finance, al-Qaeda in the Islamic Maghreb (AQIM) , drug smuggling, taxes on locals and donations from other countries.


“AQIM‘s first major kidnappings came in 2003, before it joined al-Qaeda, when it abducted 32 Western tourists,” according to Yaya Fanusie and Alex Entz, the report‘s authors. By 2012, AQIM vaulted to the top of al-Qaeda‘s table of richest branches solely by “vast sums it obtained through ransoms,” Fanusie and Entz noted.


Read the full article here