Somali money transfer companies moved more than $3.7 million in cash between suspected weapons traffickers in recent years, including to a Yemeni under U.S. sanctions for alleged militant links, according to a report seen by Reuters. The findings by a Geneva-based research group, the Global Initiative Against Transnational Organized Crime, could further complicate attempts by Somali transfer companies to retain access to international banking services. The report identified 176 transactions from the last six years that it said appeared to be linked to suspected weapons dealers in Somalia and Yemen. Somalia-based Amal Express and Iftin Express handled the transactions, which used different combinations of his name and nickname, the report said. Money transfer companies - often known as hawalas - are vital to economic activity and delivering humanitarian aid.

Source: Standard Digital September 18, 2020 09:56 UTC