<p>The Islamic State (IS) group's financing is likely to shift from a "centralised" system in Iraq and Syria to a much more fragmented one following the death of its leader, a US official said Wednesday.</p>.<p>"They still have access to millions of dollars," Marshall Billingslea, US Treasury assistant secretary for terrorist financing, told reporters after attending a Luxembourg meeting focused on countering the IS.</p>.<p>He said that the group's financial operations are expected to move away "from a centralised model in Iraq and Syria into a much more regionalised approach" as it adapts to cope with the death of leader Abu Bakr al-Baghdadi.</p>.<p>Baghdadi died on October 26 during a US special forces raid on his hideout in northwestern Syria, where he was holed up after the defeat of his so-called caliphate that has once stretched across northern Syria and Iraq.</p>.<p>Billingslea predicted that IS will rely "on their different regional bodies to become more self-sufficient," notably through ransoms from kidnappings, extortion and even the theft of cows in Nigeria, where it also has a presence.</p>.<p>The Luxembourg meeting brought together representatives of countries within a coalition that has formed to combat IS financing, under the banner Counter ISIS Finance Group.</p>.<p>The coalition, led by the US, Italy and Saudi Arabia, welcomed two new members: Malaysia and Thailand. It meets twice a year in different locations that are not communicated in advance.</p>.<p>On Monday, the US Treasury department added eight companies and individuals in Turkey, Syria, the Gulf and Europe to its sanctions list for allegedly providing financial support to the IS group.</p>
<p>The Islamic State (IS) group's financing is likely to shift from a "centralised" system in Iraq and Syria to a much more fragmented one following the death of its leader, a US official said Wednesday.</p>.<p>"They still have access to millions of dollars," Marshall Billingslea, US Treasury assistant secretary for terrorist financing, told reporters after attending a Luxembourg meeting focused on countering the IS.</p>.<p>He said that the group's financial operations are expected to move away "from a centralised model in Iraq and Syria into a much more regionalised approach" as it adapts to cope with the death of leader Abu Bakr al-Baghdadi.</p>.<p>Baghdadi died on October 26 during a US special forces raid on his hideout in northwestern Syria, where he was holed up after the defeat of his so-called caliphate that has once stretched across northern Syria and Iraq.</p>.<p>Billingslea predicted that IS will rely "on their different regional bodies to become more self-sufficient," notably through ransoms from kidnappings, extortion and even the theft of cows in Nigeria, where it also has a presence.</p>.<p>The Luxembourg meeting brought together representatives of countries within a coalition that has formed to combat IS financing, under the banner Counter ISIS Finance Group.</p>.<p>The coalition, led by the US, Italy and Saudi Arabia, welcomed two new members: Malaysia and Thailand. It meets twice a year in different locations that are not communicated in advance.</p>.<p>On Monday, the US Treasury department added eight companies and individuals in Turkey, Syria, the Gulf and Europe to its sanctions list for allegedly providing financial support to the IS group.</p>