ISIS-Somalia engages in extortion of financial institutions, local businesses, and mobile money service providers, exploiting vulnerabilities in Somalia’s institutions to finance its activities, including through mobile money and hawalas.

We remain committed to using our authorities in support of the Federal Government of Somalia and its efforts to counter terrorist financing activities that undermine Somalia’s national security and threaten regional stability.

This action is being taken pursuant to Executive Order 13224, as amended, which targets terrorist groups and their supporters