Mogadishu, Somalia – The Financial Reporting Centre (FRC) has launched a three-day capacity-building and training program in Mogadishu aimed at bolstering Somalia’s fight against financial crimes. The workshop, which began on October 21 and runs through October 23, 2025, brings together officials from the Ministry of Justice and Constitutional Affairs alongside key representatives of Designated Non-Financial Businesses and Professions (DNFBPs), with a particular focus on lawyers and notaries.
The program is part of a broader effort to enhance compliance with Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regulations across Somalia’s financial and professional sectors. Participants are being equipped with practical tools to strengthen their understanding of reporting obligations, improve due diligence processes, and ensure that legal practitioners uphold the highest standards of transparency and accountability.
Speaking at the opening, FRC officials emphasized that the legal profession plays a critical role in detecting and reporting suspicious financial activities. They noted that strengthening compliance within DNFBPs—particularly law firms and notarial offices—will significantly reduce vulnerabilities that criminal networks often exploit.
The initiative reflects the FRC’s ongoing commitment to building institutional resilience and safeguarding Somalia’s financial system from abuse. By fostering collaboration among the Ministry of Justice, DNFBPs, and other regulatory authorities, the training seeks to create a unified front against money laundering and terrorism financing, while nurturing a culture of integrity and ethical financial conduct within the country’s emerging legal and business environment.