FRC Holds AML/CFT Workshop to Strengthen Somalia’s Financial Oversight

MOGADISHU (SONNA) – The Financial Reporting Center (FRC) has conducted a four-day workshop on assessing money laundering and terrorist financing risks associated with legal persons and legal arrangements, bringing together legal professionals and representatives of the Ministry of Justice and Constitutional Affairs.

Held from November 2 to 5, 2026, the workshop focused on identifying and mitigating money laundering and terrorist financing risks, strengthening beneficial ownership transparency, improving compliance with Financial Action Task Force (FATF) recommendations and preventing the misuse of legal entities for illicit activities.

The training aimed to strengthen institutional capacity, improve coordination among stakeholders and enhance Somalia’s preparedness for the upcoming onsite assessment under the Middle East and North Africa Financial Action Task Force (MENAFATF) mutual evaluation process.