ISIS is world's richest terror outfit: experts

Washington, Oct 24: Looks like the Islamic State of

and Syria (

) also known as Islamic State (IS) has managed to overpower other terror outfits like Al Qaeda and Al Shabab financially as experts say that the IS has become the world's wealthiest terror group.

Reports suggest that IS has managed to generate millions of dollars in a month from black marktet oil sales, ransoms and extortion, officials have concluded.

US and its allies are now in a fix as they cannot exactly pinpoint the source of wealth flowing into IS. David Cohen, Treasury undersecretary for terrorism and financial intelligence said: "We have no silver bullet, no secret weapon to empty ISIL's coffers overnight. This will be a sustained fight, and we are in the early stages."

Cohen is among a team of Obama administration officials leading the fight against the Islamic State (IS) group, seeking to get allies, including Gulf countries, on board.

Reports suggest that the IS has even managed to enter the Indian soil, with many instances that show ISIS flags in the country.

US in Sept called on international help to fight the terror outfit. ISIS had beheaded two American journalists and a British aid worker in retaliation to the airstrikes conducted by US and its allies in Iraq.

With agency inputs.

OneIndia News