Somaliland Central Bank Exposes $2.7 Million AGO App Scam, Warns Public Against ‘Black Dollar’ and Gambling Frauds.
The Central Bank of Somaliland has uncovered a massive digital fraud scheme that siphoned $2.7 million from 130 citizens through a deceptive mobile application known as “AGO.”
According to Abdinasir Ahmed Hersi, the Bank’s director, the operation was orchestrated by a Chinese national who has fled to Kenya, while another Chinese suspect and several local collaborators have already been arrested.
Speaking at a public awareness meeting attended by members of the Financial Crimes Prevention Committee and the Bank’s Sharia Board, Governor Hirsi detailed how the suspects used Somali-registered bank accounts and mobile numbers to move the stolen funds across borders.
“Over seven months, $2.7 million was stolen from 130 citizens,” he confirmed, describing the scam as one of the most sophisticated digital fraud cases in Somaliland’s history.
The Central Bank chief said Somaliland authorities are working closely with Kenyan and Chinese law enforcement agencies, with the Foreign Ministry facilitating international coordination.
The arrest of the primary suspect, now in Kenya, is reportedly “at an advanced stage.”
Governor Hirsi warned the public against so-called ‘get-rich-quick’ investment schemes, emphasizing that anyone found promoting or participating in them will face legal consequences.
“There is no shortcut to wealth,” he said. “Schemes that promise money for doing nothing are traps designed to steal from you.”
He also issued a firm warning against the “black dollar” trade, a common underground exchange practice involving counterfeit or chemically treated currency.
“Black-dollar trafficking is illegal for both citizens and foreigners,” he said, confirming that multiple arrests had been made in connection with currency manipulation and illicit money transfers.
In addition, the Governor condemned online gambling platforms such as 1xBet, declaring them forbidden (haram) under Islamic law and prohibited by Somaliland’s national legislation.
“Do not feed your families with haram money,” Hirsi said. “Such income destroys both faith and society.”
He urged Somaliland’s youth to pursue lawful livelihoods through entrepreneurship and honest labor, noting that the nation offers “abundant legitimate opportunities” for those willing to work.
The revelation marks a major moment in Somaliland’s ongoing campaign against financial crime, cyber fraud, and unregulated money transfers, underscoring the Central Bank’s growing vigilance over the digital economy.
