UN chief: Islamic State has as much as $300 million to fight

UNITED NATIONS (AP) — Secretary-General António Guterres says in a report that the Islamic State extremist group has been left with as much as $300 million following the loss of its so-called "caliphate" in Iraq and Syria, "with none of the financial demands of controlling territory and population."

The report to the Security Council on the threat posed by IS circulated Monday says the lull in attacks directed by the militant group "may be temporary."

It said the group is believed to be capable of directing funds to support "terrorist acts" within Iraq and Syria and abroad by mainly using services such as informal money transfer businesses.

The Islamic State is also encouraging increased financial self-sufficiency throughout its network of supporters and affiliates elsewhere in the Mideast, Africa and Asia, the report said.