80inconferencefinancingterrorinininininintoconferencetointerrorinfinancingterrorInterrortoconferenceinParisMinisters fromcountries and nearly 500 experts gatherfrom Wednesday for aon combating theofgroups such as Islamic State and al-Qaeda, French officials said.Attacks have become increasingly low-cost since the 9/11 atrocitiesthe United States2001, particularlyrecent years when followers of Islamic State (IS) have used vehicles and guns as their main weapon of choice.But French authorities remain concerned about a huge war-chest amassed by IS between 2014 and 2016 when it ruled over large swathes of oil-rich territoryIraq and Syria.A French presidential official briefing journalists on Tuesday said that IS income was estimated at about one billion dollars (820 million euros) a year. "It has been moved since, at leastpart. It's probably somewhere," the official said on condition of anonymity. "These groups are very skilfulusing sophisticated techniquesmove financial resources around. "The idea of the two-day, which will close with a speech by French President Emmanuel Macron on Thursday afternoon, isshare expertise and good practice that can be implemented internationally.The Islamic State group faces imminent defeat on the battlefieldSyria where the last pockets of its fighters are holding out, but experts warn that its ideology will live on.Someexperts, including Peter Neumann from King's CollegeLondon, have argued recently that the fight against theofgroups has been ineffective since 2001.a report last year entitled "Don't follow the money", he argued that low-costattacks were easymount and jihadist groups could transfer money easily without using the international banking system.He will make a speech at the start of the second day of theon Thursday which will take place at the Organisation for Economic Co-operation and Development

Source: Economic Times April 24, 2018 13:52 UTC