Pontus Marine

Sunday, February 22, 2015

US- Congress searches for Somali remittance lifeline

(Medeshi)- Lawmakers are scrambling to find a way to keep critical funds flowing to Somalia, after immigrants effectively lost their only way to send money to family back home.


Increasing scrutiny from the government about whether banks are properly policing their accounts for money launderers and terrorist outfits has driven nearly all U.S. banks away from providing accounts to companies with ties to risky areas, including Somalia, a war-torn region that is home to the terrorist group al-Shabaab.
Read more at the Hill