American and British officials will likely weigh steps to quash fundraising by the Somali rebel group behind the terror attack and hostage standoff in Kenya, two investigators said Monday. U.S. investigators are sifting through bank secrecy reports filed on outbound remittances for any links to Al Shabaab, an al Qaida-affiliated group that has claimed responsibility for killing at least 62 people and taking hundreds of hostages Saturday at the Westgate Mall in Nairobi, said Jane Rhodes-Wolfe, chief of the FBI's Terrorist Financing Operations Section. The investigation could lead to the U.S. Treasury Department announcing new designations against members of Al...
Kenyan officials will remove some money services businesses from a governmental blacklist following evaluations of the companies' compliance controls, according to an individual with direct knowledge of the matter.
Kenyan officials will give money transfer companies and other businesses a week to appeal their inclusion on a sanctions list targeting al-Shabab, the head of the country's financial intelligence unit said.
Kenyan sanctions imposed Tuesday to clamp down on the finances of Somali terrorist group al-Shabab have sharply impacted money remittance businesses in London, company agents told ACAMS moneylaundering.com Thursday.
The British High Court injunction Tuesday against Barclays ending its relationship with Somali money services businesses is likely to keep the bank from dropping the accounts for five or six months, according to compliance experts.