Breaking News Isis’ ‘business model’ failing as group haemorrhages millions while losing territory across Syria and Iraq

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Isis’ “business model” is failing as jihadis lose their grip on territory and the vital oil and tax revenue it brings, a new report has found.

The so-called Islamic State is believed to be the richest terrorist group in the world, exploiting natural resources and looting antiquities seized in its lightning advance across Syria and Iraqi in 2014.

Civilians trapped under the militant group’s brutal rule are subjected to punitive taxation, confiscations and fines, while millions of pounds are made in ransoms from kidnappings.