Suspicious financial transactions increased in Houthi-controlled areas

The total suspicious financial transactions that were monitored and recorded in the capital Sana'a and the governorates under the control of the Houthi militia increased from 986 cases in 2019 to 1554 cases in 2020.

The annual report for 2020 issued by the "Yemeni Financial Information Collection Unit" of the "National Committee for Combating Money Laundering and Financing of Terrorism" (run by the militias) showed that these cases vary between notifications, inquiries, circulars, freezing, unfreezing or seizure.

The report, issued under the supervision of the International Financial Action Task Force (FATF) and the Middle East and North Africa Financial Action Task Force (MENAFATF), confirmed the registration of money laundering, terrorism, corruption, tax evasion, fraud, counterfeiting, forgery, money smuggling and suspicious transfers.

The report stated that the number of notifications reached 855 in 2020, compared to 526 notifications in 2019.

As for the number of inquiries, it amounted to 631, compared to 307 inquiries during the same period.

According to the report, a number of banks, exchange companies, government agencies, judicial authorities, law enforcement agencies, monitoring and supervision agencies, and others were implicated in these recorded financial crimes, which constitute a very small percentage of what is committed by the Houthi militia.

Since the outbreak of the war in late March 2015, the Houthi militia have carried out extensive money laundering operations for billions and millions of riyals and dollars that are seized from the state’s general budget, special funds, externally funded projects, tax revenues, customs, oil derivatives, domestic gas, telecommunications companies, cement and cigarettes.