Islamic militants are using bitcoin and PayPal to fund terrorism in Indonesia, according to the head of a financial transaction and reporting agency, the Tribune News in Jakarta reported.
Kiagus Ahmad Badaruddin, the head of The Center for Financial Transaction Reporting and Analysis (INTRAC/PPATK) said conventional means are no longer being used to smuggle funds into the country. Unknown perpetrators are using PayPal and virtual currency based on cases the organization has examined.
Badaruddin said Bahrun Naim, a militant fighting alongside Islamic State in Iraq and Syria (ISIS) in the Middle East, has masterminded terrorist acts in Indonesia using PayPal or bitcoin.
The agency detected more than twice as many fraudulent transactions linked to terrorism in 2016 from the prior year, advancing from 12 to 25 cases, causing the agency to tighten its scrutiny of financial transactions from overseas, according to The Straight Times.
Funds Channeled Across Java
Kiagus did not disclose the amount of money involved. He said the funds were directed to domestic terror cells across Java, which the country’s counter
Read more ... source: CryptoCoinsNews
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