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What is Financial Reporting Center mean?
The Financial Reporting Center (FRC) in Somalia was established by the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2016 to operate as a National Central Agency that is responsible for the receipt, analysis and appropriate dissemination of all information relating to money-laundering and terrorism financing.
The FRC serves as Somalia's Financial Intelligence Unit (FIU), an independent center of expertise in the analysis of suspicious financial activity and the investigation of financial crimes.
Posted on 06 Oct 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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