The oil fields and refineries it held by the Islamic State provide it with an estimated one to three million dollars in daily income. Before that slush fund was available to it, it relied on other sources of revenue, including secret transfers from various foreign intelligence services.

However, based on the following ANSA report, at least some of the money for ISIS was fraudulently diverted from European VAT accounts to financial brokerages for Islamic terrorism:

Billion-Euro Fraud for Terrorism Uncovered in Milan

Accountant raised alert about suspicious transfers

(ANSA) — Milan, September 24 – Milan public prosecutors uncovered a billion-euro fraud scheme that may be funding Islamic terrorists, Italian daily Corriere della Sera reported Wednesday.

Following complaints from a Milan accountant of suspicious financial transactions, intelligence authorities cross-checked accounts with documents seized in a 2010 Taliban raid, uncovering a monumental money transfer organization.

Some 38 people with ties to Anglo-Pakistani and French-Israel groups are suspects in the alleged fraud scheme, which authorities said includes the illicit transfer of value-added tax to accounts in Cyprus, Hong Kong and Dubai.

As well, funds were allegedly converted into luxury goods such as diamonds and real estate for use in financing armed groups. Eleven suspects are being sought by authorities.

In addition to money, Europe is supplying a significant number of mujahideen for the cause in Syria and Iraq.

Also from ANSA:

Flow of EU Combatants to ISIS ‘Never Been Greater’

More women joining up says EU counter-terror chief

(ANSA) — Brussels, September 24 – The flow of fighters from the European Union to join the ranks of the Islamic State (ISIS) fundamentalist militia has never been greater, European Union Counter-Terrorism Coordinator Gilles de Kerckhove told a European Parliament foreign affairs committee hearing Wednesday.

ISIS currently numbers 31,000 fighters, has the capacity to control water and oil supplies, and finances itself to the tune of $2 million a day thanks to oil racketeering, according to de Kerckhove.

An estimated 3,000 men and women have left Europe to join ISIS on the front lines in Syria and Iraq, he added.

More and more women are joining up, some because they won’t be parted from their male relatives and some to take on logistical and military roles, de Kerckhove told the committee. “ISIS is a true threat to the international community,” he said.

So the women have “logistical and military roles”, eh? Might those roles include acting as “temporary wives”, i.e. the Islamic version of “comfort women”?

The fatwas justifying such roles have already been issued by ulema in Saudi Arabia and elsewhere.

Hat tip: Insubria.