Mogadishu, Somalia – Somalia’s Office of the Attorney General has announced the freezing of approximately one million U.S. dollars after an extensive investigation into nearly 3,500 bank accounts suspected of financing extremist groups.
The operation, part of Somalia’s intensified counterterrorism and anti-money laundering campaign, aimed to dismantle financial networks that fund militant activities, particularly those linked to the Al-Qaeda-affiliated group Al-Shabaab.
In a statement released on Tuesday, the Attorney General’s Office said the investigation was conducted in cooperation with financial institutions, the Financial Reporting Center (FRC), and international partners. The probe targeted individuals and entities believed to be laundering money and channeling resources to terrorist organizations.
“This is a significant step in our efforts to protect Somalia’s financial system from abuse by extremist networks. We are committed to ensuring that our institutions are not exploited to fund acts of terror,” the statement read.
Officials did not name specific banks or account holders but confirmed that legal proceedings are underway and further seizures and prosecutions could follow. Authorities are also working to enhance oversight in the banking sector and tighten regulatory frameworks to prevent future abuse.
Security analysts praised the move, calling it a major milestone in Somalia’s war on terror.
“Cutting off financial flows is a strategic victory. This kind of enforcement weakens the operational capacity of terror groups,” said Hassan Moallim, a regional security expert.
The Somali government has increasingly relied on financial intelligence to combat terrorism and corruption. Recent reforms, including new laws on counterterrorism financing and strengthened oversight mechanisms, have earned praise from international partners.
The Attorney General’s Office affirmed that it will continue to work with stakeholders at home and abroad to ensure accountability and safeguard the country’s financial stability.