Denmark to host coalition against IS meeting

Counter ISIL Finance Group working to strip away the financial layers of terror group

Over 120 experts in money laundering and fighting terrorism will gather in Copenhagen today and tomorrow as part of Counter ISIL Finance Group (CIFG), the financial task force charged with curbing the financial capabilities of the jihadist organisation Islamic State (IS).

The meeting will focus on how to prevent IS from obtaining financial resources and how the coalition can strengthen its efforts to bar IS from accessing the international financial system.

“It shows that our partners recognise Denmark’s efforts in the battle against IS – also outside the military track,” said the foreign minister, Anders Samuelsen.

“IS is the best financed terror group in history, so fighting the flow of money to the group is paramount to the struggle. We must push on all fronts: from the sale of oil, kidnappings, blackmail and access to banks or exchange offices. These are some of the aspects that will be discussed today.”

READ MORE: Danish warship heading to fight Islamic State

Five-track focus
Another topic up for discussion will be how IS will evolve as the group is fought, from a geographical standpoint.

The purpose of the CIFG, which is led by the US, Italy and Saudi Arabia, is to boost co-operation regarding information exchange concerning how to limit the financing of IS.

The international coalition against IS consists of 68 nations working to take down the terror organisation within five tracks. Those tracks are financing, military, foreign fighters, stabilisation and strategic communication.