Airstrikes hit 'hundreds of millions' in Islamic State cash, US official says

A U.S. military spokesman in Baghdad says a series of airstrikes have destroyed "hundreds of millions" of dollars in Islamic State cash holdings.

Col. Steve Warren said Wednesday that the bombings are part of a larger effort to limit the Islamic State's ability to finance its military operations. He said the broader campaign, which includes strikes against oil processing and distribution facilities, has forced the group to adjust by reducing salaries for its fighters, among other recent changes.

Warren, speaking for the coalition that is fighting the extremist group in Iraq and Syria, said airstrikes in recent days have targeted what he called IS cash collection areas.