| 000 -LEADER | |
|---|---|
| fixed length control field | 01282nam a22001337a 4500 |
| 100 ## - MAIN ENTRY--AUTHOR NAME | |
| Personal name | Financial Times |
| 245 ## - TITLE STATEMENT | |
| Title | Somalia’s lifeline |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication | London |
| Name of publisher | Financial Times |
| Year of publication | 2013 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Number of Pages | 1p. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | The article talks of banking transfers in Somalia to the effect that there will be many losers if, Barclays enforces its decision to close shop for the Somali money transfer agencies holding accounts with the bank. Barclays is the last of the UK banks to respond with such caution to stringent anti-money laundering regulation introduced since 9/11. In the absence of a functioning banking system, aid agencies depend on the transfer agencies to get cash to where it is needed. The bank need to ensure that all the money it handles is clean though the move is next to impossible. Non-compliance with anti-money laundering laws carries the risk of heavy penalties.As things stand, hundreds of thousands of Somalis will lose their only source of income, remittances will be driven underground where benevolent funding will be even harder to distinguish from illicit flows. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical Term | AID, BANK, BANKING SECRECY FAKING TRANSACTIONS, ILLICIT WEALTH, MONEY LAUNDERING, OFFSHORE |
| 856 ## - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | http://iffoadatabase.trustafrica.org/iff/somalia’s_lifeline.pdf |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Koha item type | News Articles |
No items available.