Somalia Financial Reporting Center

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Somalia Financial Reporting Center

Overview
The FRC is Somalia’s independent center of expertise in the investigation and analysis of suspicious activity reports (SAR).

The regime is designed to protect Somalia’s financial system, develop and enforce robust AML and CTF frameworks.

28/03/2026

28th March, 2026 Mogadishu – Somalia, The Financial Reporting Center is conducting a comprehensive three-day training on Financial Investigation for Somali law enforcement agencies The training aims to enhance participants’capacity to detect, analyze, and investigate financial crimes, including money laundering and terrorist financing.

The program was officially opened by Colonel Ahmed Isse, Head of Planning and Training of the Somali Police Force, who underscored the importance of strengthening financial investigation skills to safeguard the country’s financial system and improve law enforcement effectiveness. The event is also attended by Colonel Farhan Abdihakim, Head of the Financial Crime Investigation Department of the Police Force, highlighting the importance of specialized investigative expertise.

Over the three days, the training will focus on key techniques and practical skills essential for effective financial investigations. Participants will be introduced to modern investigative techniques, financial intelligence analysis, tracing illicit financial flows, evidence collection, and case development. The sessions will also emphasize inter-agency cooperation and the use of advanced tools in
combating financial crimes.

The training will conclude on 30th March 2026, with participants expected to apply the knowledge gained to strengthen financial crime investigations and enhance national security and financial integrity.

17/12/2025

Today, 17 December 2025, the National Anti-Money Laundering and Counter-Terrorism Financing Committee (NAMLC) held its ordinary meeting and adopted key decisions to further strengthen Somalia’s national framework to combat money laundering and terrorist financing.

The Committee approved a new Targeted Financial Sanctions list, reaffirming Somalia’s commitment to disrupting terrorist financing networks and safeguarding the integrity of the financial system in line with national legislation and international standards.

NAMLC also adopted its 2026 Action Plan, which outlines priority reforms and coordinated actions to address recommendations from the MENAFATF Technical Compliance assessment. The plan focuses on improving effectiveness, enhancing inter-agency coordination, and strengthening institutional capacity across the AML/CFT regime.

In addition, the Committee discussed improvements to governance and oversight arrangements, including the by-laws of the National Committee and its sub-committees, aimed at reinforcing accountability, clarity of roles, and operational efficiency.

The Committee further agreed to review the findings of the Terrorist Financing Risk Assessment to ensure that national policies and mitigation measures remain responsive to evolving risks and emerging threats.

Finally, NAMLC directed the National Communications Authority to prepare a comprehensive report on SIM card registration, in consultation with relevant stakeholders, to support efforts to prevent the misuse of telecommunications services for terrorist activities.

26/10/2025

Mogadishu - Somalia, 25, October 2025. The Financial Reporting Center (FRC) held today a Financial Crimes Investigation Training for Law Enforcement Agencies. The training will continue over three days (25th – 27th October 2025), with participation from key security and enforcement institutions.

The training focuses on strengthening the skills and knowledge of participants in combating Money Laundering (ML)and Terrorist Financing (TF) through improved understanding of the AML/CFT legal framework, financial disruption strategies, investigative techniques, and inter-agency coordination.

The objective of the training is to enhance the capacity of law enforcement agencies in identifying, analyzing, and investigating financial crimes, while improving cooperation with the respected institutions.

Upon completion of the program, participants are expected to:
1. Strengthen Legal Understanding
Demonstrate deeper knowledge of AML/CFT laws and regulatory obligations relevant to law enforcement operations.
2. Improve Financial Crime Detection
Identify suspicious financial activities and ML/TF typologies more effectively using analytical approaches.
3. Enhance Investigative Competencies
Apply advanced investigation techniques — including transaction analysis and intelligence-led operations — to dismantle financial crime networks.
4. Support Inter-Agency Coordination
Improve information sharing and cooperation between the FRC and national security institutions for a more unified enforcement response.
5. Implement Disruption Strategies
Utilize operational and strategic intelligence to weaken the financial infrastructure of organized crime and terrorism.
6. Strengthen Engagement with Reporting Entities
Better understand how to collaborate with banks, money transfer services, and other reporting entities to gather quality.

22/10/2025

The Financial Reporting Centre (FRC) has today launched a comprehensive three-day capacity building and training program for Minstry of Justice and Constitution and Designated Non-Financial Businesses and Professions (DNFBPs), with a particular focus on compliance and reporting by the lawyers and notaries. The program commenced on 21st October 2025 in Mogadishu, Somalia, and will continue until 23rd October 2025.

This training is designed to enhance the technical knowledge and compliance capacity of DNFBPs in implementing effective Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) measures. It also aims to strengthen participants’ understanding of their reporting obligations, promote a culture of integrity and compliance, and foster closer collaboration between MoJC, DNFBPs, the FRC, and other competent authorities in combating financial crimes.

The initiative underscores the FRC’s steadfast commitment to building institutional capacity, promoting transparency and accountability, and ensuring that DNFBPs—particularly those in the legal profession—actively contribute to protecting Somalia’s financial system from money laundering and terrorist financing risks.

09/09/2025

Moqdisho - Somalia, 08 September 2025, The Financial Reporting Center (FRC) successfully organized and conducting a two-week Refresher Training on goAML for the employees during two weeks.

The training aimed at strengthening the operational, technical, and analytical capacity of FRC staff to effectively utilize the goAML platform for detecting, analyzing, and reporting financial intelligence related to money laundering and terrorist financing.

The Objectives of the Training is to refresh and enhance skills in data analysis, suspicious transaction report (STR) review, risk assessment by using goAML tools, and also align the use of goAML with international AML/CFT standards and best practices.

The goAML Refresher Training will be a significant step in building the capacity of employees to effectively manage financial intelligence. By enhancing both analytical and technical skills, this training will contribute to strengthening Somalia’s AML/CFT framework and improving the overall integrity of the financial system.

13/08/2025

Mogadishu, 13 August 2025, The National Anti-Money Laundering and Terrorist Financing Committee (NAMLC) convened to review progress and agree on priority measures to further strengthen Somalia’s AML/CFT regime.

The Committee resolved to focus on the following priority areas:

1. Legislative & Regulatory Framework for expediting the enactment or amendment of all outstanding legislative and regulatory frameworks necessary for full AML/CFT compliance and review the status of targeted financial sanctions (TFS) implementation to ensure alignment with international standards and effective enforcement.

2. Institutional strengthening on enhancing supervision by the competent regulators to ensure risk-based monitoring of financial institutions, mobile money operators, and DNFBPs.

3. Establish and operationalize robust inter-agency coordination mechanisms to streamline tracing, freezing, confiscation, and management of illicit assets.

4. Operational enhancement and increase the volume and quality of reports

5. Achieve tangible results in investigations, prosecutions, and asset recovery cases linked to money laundering and terrorist financing.

The Committee emphasized the need for coordinated action across government institutions, regulators, and law enforcement to ensure effective implementation and compliance with Financial Action Task Force (FATF) standards.

26/07/2025

26th of July 2025, The Financial Reporting Center officially launched a two-day capacity-building training for media professionals.

The training aims to enhance awareness and strengthen the media's capacity to play a great role in Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and disrupting terrorist financing strategies.

19/07/2025

Mogadishu, Somalia — The National Committee for Combating Money Laundering and Countering the Financing of Terrorism (AML/CFT) held a high-level meeting today in Mogadishu, chaired by Somalia’s Minister of Finance, H.E. Bihi Iman Egeh. The committee, which includes representatives from the Ministries of Finance, Justice, Security, Commerce, Communications, NISA, the Financial Reporting Center, and the National Communications Authority, issued a strong warning and unveiled significant progress in disrupting terrorist financing across the country.

In an official statement, the committee declared that the Federal Government of Somalia has made substantial gains in dismantling financial networks used by the terrorist group Al-Shabaab (referred to as Khawaarij), which have long exploited citizens and businesses through extortion and illegal collections.

Between January 1 and June 30, 2025, the government implemented a national strategy targeting the financial lifelines of terrorist groups, resulting in the following actions:

575 mobile phone numbers used by terrorist operatives for intimidation, threats, and extortion were officially deactivated.
21 bank accounts linked to terror financing activities were frozen.
88 merchant accounts used to collect or launder extorted funds were also shut down.
Several operatives involved in collecting extortion money from citizens and businesses were arrested and referred to the judiciary.
Key financial operatives and network leaders within terrorist groups were identified and neutralized, severely disrupting their financial infrastructure.
Multiple illegal checkpoints and safe houses used by the militants to collect and store money were destroyed.
The Somali government credited these successes to close collaboration with private sector businesses and public awareness campaigns encouraging citizens to reject and report extortion by terror groups.

Officials underscored that the campaign is backed by robust legal frameworks and national coordination mechanisms designed to prevent the use of the financial system for terrorism. The strategy includes detection, investigation, asset freezing, and prosecution of those involved in illicit financial activity.

The government warned that anyone found facilitating, collecting, or contributing funds or resources to terrorist groups — directly or indirectly — will face severe legal consequences. This includes individuals, businesses, or organizations that assist in any form of financing terrorism.

Reaffirming its constitutional duty to protect Somali citizens, the Federal Government of Somalia emphasized its unwavering commitment to eradicating terrorism financing and ensuring the rule of law across all sectors of society.

30/06/2025

Mogadishu, 30th June 2025 — The Financial Reporting Center today held the quarterly National Compliance Forum (NCF) meeting for financial institutions and mobile money providers.

The primary purpose of the meeting was to share crucial information with all financial institutions and Mobile money providers on the outcome of the mutual evaluation process and the recently completed amendments to the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Act.

These updates are vital for ensuring continued compliance and for enhancing the understanding of the evolving regulatory landscape and mutual evaluation requirements.

Address

Fiat Area
Mogadishu

Telephone

+252619122555

Website

http://www.frc.gov.so/

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