Mogadishu, Somalia — The National Committee for Combating Money Laundering and Countering the Financing of Terrorism (AML/CFT) convened a high-level meeting today in Mogadishu, chaired by the Minister of Finance, Bihi Iman Egeh, to unveil significant strides in disrupting the financial networks of Al-Shabaab and reaffirm the government’s tough stance against terrorism financing.
The multi-agency committee — composed of representatives from the Ministries of Finance, Justice, Security, Commerce, Communications, the National Intelligence and Security Agency (NISA), the Financial Reporting Center, and the National Communications Authority — issued a firm warning to individuals and businesses, underscoring that aiding terror groups in any form will carry severe legal penalties.
In a detailed progress report, the committee revealed that between January 1 and June 30, 2025, the government implemented a coordinated national strategy to target and dismantle the financial architecture of terrorist groups. The operation resulted in the deactivation of 575 mobile phone numbers used by Al-Shabaab operatives for threats and extortion.
Twenty-one bank accounts linked to terror financing were frozen, cutting off critical access to formal financial channels. In addition, 88 merchant accounts used to launder and collect extorted funds were shut down.
Authorities also made multiple arrests of individuals engaged in collecting illicit funds, with suspects referred to the judiciary. Key financial operatives and network leaders were identified, neutralized, and removed from operations, while several illegal checkpoints and militant safe houses previously used to hoard and transport funds were destroyed.
The committee credited these achievements to intensified coordination between government agencies and private sector partners, alongside public awareness campaigns urging citizens to reject and report any form of extortion by extremist groups.
Bihi emphasized that the counter-financing strategy is rooted in Somalia’s legal framework and supported by advanced detection and enforcement tools.
“We are building a financial system that cannot be abused by terrorists. Our laws, institutions, and our people are standing together to end the exploitation of citizens and dismantle the financial roots of violence,” he said.
Officials stressed that both direct and indirect support for terrorism — including donations, logistical assistance, or money laundering — will result in prosecution under Somalia’s anti-terror and anti-money laundering laws. Businesses, individuals, and organizations are urged to exercise diligence and report suspicious activity.
Reaffirming the government’s constitutional mandate, the committee concluded with a strong message: “The Federal Government of Somalia remains resolute in protecting its people and securing its institutions. The battle against terrorism will not only be fought on the battlefield but also in the financial systems that sustain it.”
The committee pledged to continue its aggressive efforts and warned that further actions are forthcoming as part of the nationwide crackdown on terror financing.