NFIU Exposes Terrorist Crowdfunding Using Women’s Accounts and SIM Cards
The NFIU’s 2025 Annual Report reveals terrorist financiers using foreign‑based crowdfunding campaigns that solicit $50–$500 donations disguised as humanitarian or educational aid, routed through Telegram and Signal to PayPal or bank accounts, then pooled in overseas master accounts before being split into sub‑threshold transfers via IMTOs and remittance apps to Nigerian money mules—students, small‑business owners and relatives—to evade detection. The report also notes gender‑based proxy accounts opened in women’s names while men control them, and the use of third‑party SIM cards (pre‑registered, linked to deceased persons or proxies) to sever the audit trail between BVNs and transactions. ISWAP cells further employ detailed transaction narrations for internal accounting or coded language to bypass filters. These tactics illustrate how illicit funds are moved and integrated into operational financing, potentially enabling the purchase of dual‑use items like motorcycles, fertilizers and satellite internet gear. Given the scale and sophistication, what signs of unusual small‑value transfers or account‑SIM mismatches should you watch for in your financial circles?