News

The recent U.S. indictment of a 27-year-old Pakistani-American woman accused of supporting the Islamic State group in Syria shows how terrorist organizations use a variety of financial products and channels to raise and move funds, say sources. Federal prosecutors accused Brentwood, New York resident Zoobia Shahnaz in December of defrauding several U.S. banks and payment companies out of more than $85,000 and transferring the funds to Islamic State associates in Pakistan, China, Turkey and other countries. From March through July of last year, Shahnaz fraudulently obtained a $22,500 loan from a Manhattan bank, used more than a dozen credit cards...