ISIS are almost bankrupt and struggling to pay their fighters
Hoshyar Zebari, Iraq’s former finance minister, revealed the terror network is struggling to pay their militants because they are completely "broke".
In their heyday, ISIS reportedly made £2.3-£4million every day, which made them the richest terrorist organisation in the world.
The terror cult’s astonishing income largely came from oil smuggling and taxing local businesses.
Mr Zebari said: “They were taxing every business – they were taxing every shop, every pharmacy, every activity – not to mention the money they stole from the Iraqi banks.
Chilling photographs released from Mosul Thu, March 16, 2017
U.S.-backed Iraqi forces push further into the Islamic State-held western half of Mosul, capturing a damaged bridge which could link up their units on either side of the Tigris river
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An Iraqi special forces soldier checks men for explosive belts as they cross from Islamic State controlled part of Mosul to Iraqi forces controlled part of Mosul
"They were a very, very rich organisation. Now, I think they are on the retreat and they are broke.
“Also they are losing ground, so this battle in Mosul is decisive to end their caliphate – to end their so-called Islamic State.”
Professor Bill Durodie, chair of international relations at Bath University, said ISIS has become “desperate”, so they have sought new ways to gain recognition.
The terror network attempted to claim responsibility for the Westminster attacks, but did not imply they had connections with terrorist Khalid Masood.
Professor Durodie said: “We’re looking at people who are increasingly desperate.
Hoshyar Zebari, Iraq’s former finance minister said the terror network are at the brink
“If you look at the return rate if you’re a terrorist minded person, you’re looking at the Nice attacks in a vehicle which took out almost 100 people, the Christmas markets in Germany, a dozen, there is an element of desperation that we all saw in those incidents yesterday.
“I don’t think that we should feel threatened as a society.”
Fighters in Mosul are said to be so broke they are now effectively going rogue and smuggling families out of the city and to safety in return for bribes of as little as £15.