Central bank and financial bodies
Financial Reporting Center of Somalia (FRC): the financial intelligence unit
The Financial Reporting Center is Somalia's financial intelligence unit. Banks, money transfer companies and mobile money firms must report suspicious and large cash transactions to it, and it passes cases to the police and prosecutors. In 2025 it received 309 reports and sent 25 cases to law enforcement, most about terrorist financing. Amina M. Ali is Director.
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). 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; AML/CFT Act 2016, Central Bank of Somalia).
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).
- 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).
- Coordination: it works with the National Anti-Money Laundering Committee (NAMLC), chaired by the Minister of Finance (FRC Annual Report 2025).
Who leads it
Amina M. Ali is Director of the FRC (FRC Annual Report 2025). The Minister of Finance, Bihi Iman Egeh, chairs the NAMLC (same source). See Ministry of Finance.
Its 2025 numbers
From the FRC's own annual report (FRC Annual Report 2025):
- 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), 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). 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). A 2021 opinion piece in Hiiraan Online described the risks of a poor evaluation for Somalia's banks and remittances (Hiiraan Online, November 2021).
Money sent home from abroad passes through money transfer companies, which are reporting entities under these rules (FRC Annual Report 2025). See Hawala and money transfer companies and 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.
Sources
- FRC, About · frc.gov.so
- FRC Annual Report 2025 · frc.gov.so
- AML/CFT Act 2016, Central Bank of Somalia · centralbank.gov.so
- FRC · frc.gov.so
- Appropriation Act for 2027, as submitted · mof.gov.so
- AML/CFT Amendment Act 2025, Central Bank of Somalia · centralbank.gov.so
- Hiiraan Online, November 2021 · hiiraan.org
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Where this matters
Same era
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- Birmingham (Somali diaspora)About 17,000 to 21,600 Somalis live in Birmingham (Census 2021), mostly in Nechells, Newtown, Small Heath and Alum Rock. History, work, health and ties home.
- Bristol (Somali diaspora)9,167 people in Bristol identified as Somali or Somalilander in Census 2021, the city's largest minority group. Where they live, work, housing, leaders and ties home.
- Calgary, Alberta, Canada2,845 people of Somali origin lived in Calgary at the 2021 Census, plus 890 in Brooks. How they came, who serves them and what they face.
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- DjiboutiAbout 13,900 refugees from Somalia live in Djibouti (Aug 2026): numbers since 1990, Ali Addeh, Holl-Holl, the 2017 refugee law, Arta 2000 and 2025 returns.