Wednesday December 4, 2024
Mogadishu (HOL) — Somali President Hassan Sheikh Mohamud has directed security forces to intensify efforts against individuals financing terrorism as part of wider measures to curb al-Shabab's extortion activities.
Chairing the National Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Committee in Mogadishu on Wednesday, the President highlighted his administration's successes in disrupting terrorist financing networks.
"The meeting focused on accelerating efforts to undermine the financing of terrorism and resulted in strong decisions to target anyone involved in financing terrorist acts," read a statement from the Somali Presidency.
President Mohamud issued a stern warning to Somali businesses and citizens, urging them to avoid any dealings with terrorist groups. "Anyone found aiding these groups will face the full force of the law," he cautioned.
The federal government has recently made significant progress in dismantling financial networks linked to terrorist groups, including freezing accounts and shutting down operations used to launder large sums of money for extremist activities.