In recent months, the UK government has worked closely with the Somali community on the issue of remittances. I understand the levels of anxiety in the community, as a result of changes to banking arrangements for key Somali MSBs and the fragility of many peoples' situation in Somalia. Since coming into my new Ministerial role earlier this year, I have made sure that the government is doing what it can to ensure remittances continue to flow through accessible, secure channels from the UK to all regions in the world, including Somalia. At a number of community meetings over the last month, government officials have listened to your concerns and given you more information about the work we are doing. The issue is complex and international. Across the world, banks have been nervous about their business with money transmitters. This is because when they move money around the world, the banks need to have systems in place to understand where the money is from, where it is going, and why. This helps them prevent criminals from using their services to launder money, and individuals from providing funding to terrorists. Money transmitters have the same obligations. But the issues are if anything [...]
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