US blows away millions of ISIS cash

ISIS suffered a serious setback in Iraq when the US Air Force bombed one of its banks, which held millions of dollars in cash. 

By: AP and World Israel News Staff

A US defense official said on Tuesday that American airstrikes are chipping away at the Islamic State (ISIS) terror group’s cash reserves.

An airstrike on Sunday hit what the official called a “cash storage facility” in the city of Mosul, which is the terrorists’ main stronghold in Iraq.

The official, who was authorized to discuss details only on condition of anonymity, said Monday that two 2,000-pound (900-kilogram) bombs targeted the facility.

The officials said the amount of cash destroyed is believed to be in the millions of dollars, but the exact amount is unknown.

ISIS uses the funds to to pay its troops and for ongoing operations.

It was at least the second time the US has bombed the Islamic State‘s cash stockpiles. Combined with attacking the terrorists’ oil resources, it is part of an effort to sap their financial strength.

ISIS has been ranked as the richest terror organization in history.

In 2014, Forbes Israel ranked the Islamic State at the top of the list of wealthy terror organizations, with a $2 billion annual income.

IraqISISIslamic StateMosul