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.
