Somalis hit hard by money transfer cuts

There are renewed concerns that the closure of small-money-transfer services could create a humanitarian crisis in Somalia.

A customer of Dahabshiil, Somalia's largest remittance company, exchanges his US dollar bills for Somali shillings

There are renewed concerns that the closure of small-money-transfer services could create a humanitarian crisis in Somalia.

The moves to stop the transfers are part of international counter-terrorism measures.

But in a new report, Oxfam Australia says the remittance cuts could push millions of people in Somalia deeper into poverty.

Banks in Australia, the United States and Britain are breaking ties with the money-transfer operators who enable people to send money home to family and friends.

Westpac is the last major Australian bank to provide banking services for small money transfer operators and is due to close its accounts at the end of March.

Oxfam Humanitarian Advocacy Lead Ben Murphy spoke to Van Nguyen about the effects in Somalia.

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