Daesh Named the Richest Terrorist Organization of All Time - Reports

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PARIS (Sputnik) - Daesh* terrorist group could be in possession of billions of euros invested in legitimate businesses in different countries, French media reported Wednesday.

The representatives of more than 70 countries gathered in the French capital to discuss the struggle against financing of terrorism in the wings of a a two-day "No money for terror" international conference, which started Wednesday.

According to the Europe 1 radio broadcaster, the Daesh leadership could possess about 3 billion euros (over $3.6 billion) due to exploitation of formerly occupied territories of Iraq and Syria, as well as through different fines imposed on the terrorist organization members. The accumulated funds had been invested in fishing farms in Iraq, as well as in other projects in Turkey and the Middle East.

READ MORE: Daesh Militants Moving to Central, Southeast Asia After Defeat in Syria, Iraq

In recent years, Daesh has seized large swathes of land in the Middle East, primarily from Iraq and Syria, and declared a caliphate. As of today, the terrorists have been driven from the vast majority of settlements and territories occupied by them. During the occupation of the Middle Eastern territories, Daesh established control over larges shares of local cereal, cotton and oil production.

*Daesh (also known as IS/ISIL/ISIS/) is a terrorist organization, banned in Russia

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