Investigators in Italy have discovered that massive amounts of capital used to support the Islamic State have been moving through banks and other financial institutions.

Many thanks to FouseSquawk for translating this article from Il Giornale:

Bank of Italy: Increase in reports for terrorist financing According to the Bank of Italy report, there are increasing reports of transactions suspected of financing terrorism: The total amount is 88 billion by Ginevra Spina

July 3, 2017 They are increasing reports of suspicious transactions made to finance terrorism, with a total amount of €88 billion. The warning comes from Ignazio Visco, Governor of the Bank of Italy, on the presentation of the report for the tenth anniversary of the Unit of Financial Information (FIU), the organ of the Bank of Italy that deals with money laundering and the financing of terrorism. Particular attention should be paid in countering illegal activities, the use of economic currency, and money transfer. It is the governor’s warning, which noted that the total amount of reports received by the FIU has reached €88 billion. During 2016, the FIU made reports to investigators and authorities of suspicious financial transactions “for more than €88 billion. This figure becomes more than €150 billion if you take into account transactions only attempted,” said Visco. “The number of reports has grown exponentially, not only in quantity but also in quality.” “In 2016, the terrorist threat has emerged as one of the most important and urgent among those with which the system has been confronted. The operations of suspected terrorist financing noted were 741, more than double the number compared to 2015 and six times higher in comparison with 2014,” the report reads.