<p class="MsoNormal" style="text-align: left;" align="center">Terrorist groups, like ISIS, are using untraceable cryptocurrencies and now hold &ldquo;a prominent presence online,&rdquo; according to <em style="mso-bidi-font-style: normal;">The Jerusalem Post.</em> ;</p>
<p class="MsoNormal">These groups are encouraging Bitcoin donations for fund-raising efforts.</p>
<p class="MsoNormal">&ldquo;There is currently no shelter to protect the food and ammunition from the rain,&rdquo; the group, called al Sadaqah (&ldquo;charity&rdquo; in Arabic), lamented in a post on the messaging app Telegram. The group&rsquo;s Twitter feed contains a video showing a dirt floor strewn with blankets, bags of pita bread and hand grenades along with a message&mdash;&ldquo;Donate anonymously with Cryptocurrency&rdquo;&mdash;followed by a bitcoin address. So far, according to an online ledger, the group has received about $1,000,&rdquo; writes the <em style="mso-bidi-font-style: normal;">Wall Street Journal.</em></p>
<p class="MsoNormal">These untraceable currencies have quickly become global terror networks&rsquo; preferred method to move and collect funding, according to Yaya J. Fanusie, the director of analysis at the U.S. thinktank the Foundation for Defense of Democracies&rsquo; Center on Sanctions and Illicit Finance.</p>
<p class="MsoNormal">&ldquo;It is fast, efficient, and does not pass through the same interest-loaded and traceable routes that any usual payment methods would go through,&rdquo; said Hassan Abdo, an al Sadaqah spokesman to the <em style="mso-bidi-font-style: normal;">WSJ. </em>&ldquo;This way we and our donors can keep our full anonymity.&rdquo; ;</p>
<p class="MsoNormal">Although these currencies are much more difficult to track, security agencies are still able to find a trail of terror-funding activity through numbers instead of names.</p>
<p class="MsoNormal">But these terrorist groups aren&rsquo;t afraid to use complicated approaches to hide funds that are always evolving.</p>
<p class="MsoNormal">&ldquo;Another separate jihadist media outlet ran a bitcoin funding campaign using a website with a link which opened up to a page on the site that generated bitcoin addresses,&rdquo; writes <em style="mso-bidi-font-style: normal;">Express UK.</em> &ldquo;This new method worked for the terrorists and kept them from the visible ledger by pointing to an external bitcoin payment site, these links open to a page within the website that generates bitcoin addresses. Supporters could copy these addresses and donate to them directly, away from the page.&rdquo;</p>
<p class="MsoNormal">&ldquo;This shows some technical sophistication on the part of that site&rsquo;s administrators because they apparently have eliminated their dependence on digital currency exchange services,&rdquo; writes Fanusie. ;</p>
<p class="MsoNormal">Donations to ISIS are being received via Bitcoin all over the world.</p>
<p class="MsoNormal">In December, the Department of Justice (DOJ) announced that the 27-year-old U.S. citizen Zoobia Shahnaz was arrested and charged for sending ISIS funds through Bitcoin.</p>
<p class="MsoNormal">She was charged with &ldquo;bank fraud, conspiracy to commit money laundering and three substantive counts of money laundering&rdquo; and allegedly sent $85,000 to Jihadists.  ;</p>
<p class="MsoNormal">Her &ldquo;transactions were designed to avoid transaction reporting requirements, conceal the identity, source and destination of the illicitly obtained monies, and, ultimately, benefit ISIS,&rdquo; according to the DOJ. ;</p>
<p class="MsoNormal">This isn&rsquo;t just about getting funds from supporters either. It&rsquo;s about building recruits.</p>
<p class="MsoNormal">&ldquo;What they&rsquo;re more than likely attempting to do isn&rsquo;t just to pick up a few peanuts in donations here,&rdquo; said Michael Smith, a fellow at the New America think-tank who studies terrorists&rsquo; use of technology. &ldquo;It&rsquo;s to build a network of sympathizers.&rdquo;</p>
<p class="MsoNormal"><strong>Author&rsquo;s note:</strong> It&rsquo;s no surprise that untraceable currency is attractive to terrorist groups. ;But, investors in cryptocurrencies like that there isn&rsquo;t a lot of regulation. This makes it risky, but big risks can bring big rewards. So should Bitcoin be tracked in a more controlled environment? Or do you allow a freewheeling currency and enjoy the benefits of new economic gains that is less under control?</p>
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