Kenya Shuts Down 13 Money Transfer Companies On Terrorism Claims

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KENDY-MONEY-TRANSFER

13 money transfer firms have had their licenses suspended by the Kenya government for claims of participating in the funding of Somali’s terror group, Al-shabaab. The move follows the recent terrorist attack at a University in Kenya’s Garissa County that saw 147 students meet their death.

The companies were part of a hunt down under the Kenya prevention of terrorism act and is targeted at freezing dozens of accounts that are suspected to be funding the terror groups, including some NGOs and travel companies as well as individuals.

Appearing in a special issue of the Kenya Gazette signed by Inspector General of Police Joseph Boinnet, the named companies include Dahabshiil,  the most popular money transfer company among international agencies and charities in Somalia with presence across 126 countries and Kendy, which is still new in Kenya having launched its operations in the country in September, 2014.

UAE Exchange Money Remittance Ltd has also made to the list of the companies alongside others that include Tawakal, Juba Express, Kaah Express, Continental, Flex, Iftin Express, Amal, Aman, Bakaal and Hodan Global.

About 72 other organizations were also named in the list and according to Kamau Thugge, the Principal Secretary at Treasury, investigations are underway for the named individuals and organizations and those found to have aided or in aid to the Somali terror group will have their accounts frozen.

Somali has been hit twice this year following a similar situation that saw US banks stop money transfers to the country in February. The move was as a result of set regulations that claimed to address an arising issue of money laundering and funding for terrorist groups.

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Following the move, humanitarian organizations and human rights groups argued that the new regulations would disadvantage thousands of individuals working and living in Somalia.