The Islamic State in Iraq and the Levant (ISIS) that is fighting in Syria is estimated to be collecting over $1 Million a month from extortion rackets in Northern Iraq.
According to intelligence from security agencies, the group has expanded on collecting payments from businesses and shop owners since late 2012 and into 2013. The group runs its extortion rackets in the city of Mosul.
In an example of the type of demands made, a computer repair shop owner was told to pay $114,000 for jihad, according to a report in NPR. The group would call the man and tell him to leave the money in a bag. The man never saw the individuals, and was threatened that the ISIS has many people working for them to kill those that do not pay the extortion fee.
Source: Alice Fordham, “For Extremists In Syria, Extortion Brings Piles Of Cash From Iraq,” NPR, April 21, 2014.