# Financial Reporting Center of Somalia (FRC): the financial intelligence unit

> What Somalia's Financial Reporting Center does: suspicious transaction reports, anti-money laundering and counter-terrorist financing; the 2016 law and its 2025 amendment; who leads it; its budget; and its 2025 numbers.

Source page: https://calankii.com/en/institutions/financial-reporting-center/
Last checked: 2026-11-12
Publisher: Calankii (https://calankii.com)

## What it does

The FRC describes itself as "Somalia's Financial Intelligence Unit (FIU), an independent and national center of expertise in the analysis of suspicious financial activities and the investigation of financial crimes" ([FRC, About](https://frc.gov.so/about-frc)). It was set up in 2016 under the Anti-Money Laundering and Countering the Financing of Terrorism Act, to collect, analyse and pass on financial information about money laundering and terrorist financing ([FRC Annual Report 2025](https://frc.gov.so/wp-content/uploads/2026/05/2025-FRC-Annual-Report.pdf); [AML/CFT Act 2016, Central Bank of Somalia](https://centralbank.gov.so/wp-content/uploads/2019/06/Anti-Money-Laundering-and-Countering-the-Financing-of-Terrorism-Act-English-Version.pdf)).

How it works:

- **Reports in:** banks, money transfer businesses, mobile money operators and other "reporting entities" must send it Suspicious Transaction Reports (STRs) and Large Cash Transaction Reports through an online system called goAML ([FRC Annual Report 2025](https://frc.gov.so/wp-content/uploads/2026/05/2025-FRC-Annual-Report.pdf)).
- **Analysis:** its Analysis Department looks for patterns, networks and links to crimes (same source).
- **Cases out:** it passes finished cases to law enforcement agencies for investigation (same source).
- **Sanctions lists:** it publishes lists of people and groups under targeted financial sanctions ([FRC](https://frc.gov.so/)).
- **Coordination:** it works with the **National Anti-Money Laundering Committee (NAMLC)**, chaired by the Minister of Finance ([FRC Annual Report 2025](https://frc.gov.so/wp-content/uploads/2026/05/2025-FRC-Annual-Report.pdf)).

## Who leads it

**Amina M. Ali** is Director of the FRC ([FRC Annual Report 2025](https://frc.gov.so/wp-content/uploads/2026/05/2025-FRC-Annual-Report.pdf)). The Minister of Finance, Bihi Iman Egeh, chairs the NAMLC (same source). See [Ministry of Finance](/en/institutions/ministry-of-finance/).

## Its 2025 numbers

From the FRC's own annual report ([FRC Annual Report 2025](https://frc.gov.so/wp-content/uploads/2026/05/2025-FRC-Annual-Report.pdf)):

- **309 reports received** in 2025, including STRs, large cash reports, tip-line information and requests from law enforcement.
- **25 cases passed** to law enforcement agencies for investigation.
- **Crimes linked:** terrorist financing was the largest share of analysed cases, followed by human trafficking, corruption and other crimes.

## The money

From the federal budget ([Appropriation Act for 2027, as submitted](https://mof.gov.so/storage/documents/2026/11/xihvtskp/Appropriation%20Act%20for%202027%20Submitted%20to%20Parlement.pdf)), where it is listed under the Ministry of Finance as "Directorate of Financial Reporting Center":

| Line | 2025 actual (US$) | 2026 budget (US$) | 2027 proposed (US$) |
|---|---:|---:|---:|
| Financial Reporting Center | 985,906 | 995,632 | 977,992 |

## International checks

Somalia is going through a **mutual evaluation** by the Middle East and North Africa Financial Action Task Force (MENAFATF), the regional body that checks countries against FATF standards. The FRC says it has submitted the technical compliance documents, and the next stage is the effectiveness assessment ([FRC Annual Report 2025](https://frc.gov.so/wp-content/uploads/2026/05/2025-FRC-Annual-Report.pdf)). Somalia amended its AML/CFT law in 2025 through Law No. 40 of 11 May 2025 ([AML/CFT Amendment Act 2025, Central Bank of Somalia](https://centralbank.gov.so/wp-content/uploads/2026/07/AML-CFT-Amendment-Act-2025-English-Translation.pdf)). A 2021 opinion piece in [Hiiraan Online](/en/economy/somali-media-companies/) described the risks of a poor evaluation for Somalia's banks and remittances ([Hiiraan Online, November 2021](https://www.hiiraan.org/op4/2021/nov/184524/somalia_s_mutual_evaluation_risk.aspx)).

Money sent home from abroad passes through money transfer companies, which are reporting entities under these rules ([FRC Annual Report 2025](https://frc.gov.so/wp-content/uploads/2026/05/2025-FRC-Annual-Report.pdf)). See [Hawala and money transfer companies](/en/economy/hawala-and-money-transfer-companies/) and [Licensed banks and money companies](/en/economy/licensed-banks-and-money-companies/).

## Its legal basis

The Anti-Money Laundering and Countering the Financing of Terrorism Act of 2016, as amended by Law No. 40 of 2025.

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