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EXCLUSIVE-Suspected arms dealers moved millions in Somali money transfers, report says

EXCLUSIVE-Suspected arms dealers moved millions in Somali money transfers, report says

KATHERINE HOURELD 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. Though they provide a lifeline to millions in the anarchic Horn of Africa nation, few banks will do business with them because of the risk of falling foul of international transparency and anti-money…
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