“What keeps me up at night when I am thinking about digital currency…the real threats out there, these days we’re thinking a lot about ISIL,” Calvery declared. “How they’re moving their money, and how potential US-based individuals are becoming foreign fighters: Are they moving their money, can we identify them from the movement of their money? What does it mean if they start moving their money through bitcoin? We’ve started to see some public articles suggesting that has occurred.”
Intelligence agencies and security experts are aware that alleged members of terrorist groups, including the ISIS, are exploring different opportunities to transfer money to militants operating in Western countries.
A continuous flow of a small amount of money could be instantaneously transferred to numerous accounts used by ISIS members worldwide. Micro payments could exploit several channels, including systems like PayPal or virtual currencies like the Bitcoin.