Somalia absolves money transfer firms fingered for laundering

Central Bank of Somali

The Central Bank of Somali.

Photo credit: File | Nation Media Group

What you need to know:

  • The firms have been accused of abetting money laundering and disbursement to individuals sanctioned for supporting terrorist groups.
  • All the four firms are headquartered outside of Somalia, but have been used by individuals, NGOs and even UN agencies to send money to Somalia.


Somalia has absolved four money remittance firms operating in the country from accusations of abetting money laundering and disbursement to individuals sanctioned for supporting terrorist groups.

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