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Funding ISIS: How to stop cash flow from countries like Canada

While U.S.-led coalition airstrikes in Iraq and Syria appear to be forcing Islamic militants to change tactics, both Prime Minister Stephen Harper and U.S. President Barack Obama this week stressed the importance of stopping the flow of funds to extremist groups.

CBC News speaks with financial crimes specialist Christine Duhaime

CBC News speaks with financial crimes specialist Christine Duhaime 9:12

While U.S.-led coalition airstrikes that continued Saturday in Iraq and Syria appear to be forcing Islamic militants to change tactics, both Prime Minister Stephen Harper and U.S. President Barack Obama this week at the UN highlighted the importance of stopping the flow of funds to extremist groups like ISIS. 

There are concerns that businesses and banks in Canada are being used to fund ISIS, which is said to be one of the world's wealthiest terrorist organizations, with some estimates saying the militant group is backed by more than $2 billion.

Financial crimes specialist Christine Duhaime tells CBC News about some potential loopholes that are being used to funnel funds to terrorists through entities like unwitting banks, and how the government can potentially close them.

"I think we have more home-grown terrorists here than in Australia or the U.S.," she said of Canada. "And some of our funds are being sent to conduit countries like Lebanon and Jordan. Financial transactions are routed through those countries, but not directly to Syria so they are difficult to catch." 

Click the video link above to watch the full interview. 

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