• Home
  • About Us
    • Commercial Crime Services
    • International Maritime Bureau
    • IMB Piracy Reporting Centre
    • Counterfeiting Intelligence Bureau
    • Financial Investigation Bureau
    • FraudNet
  • Courses / Training
    • Internet Intelligence Course        
    • Annual IMB Trading Course
  • Membership
    • Membership of CCS
    • Membership of IMB            
    • Membership of CIB
    • Membership of FIB
    • NVOCC REGISTER
  • News
  • Contact Us
winteriscoming
  1. Maritime Piracy
  2. TalkFraud
  3. Membership
  4. Investigation
  5. Products & Services

The IMB aware of the escalating level of this criminal activity, wanted to provide a free service to the seafarer and established the 24 hour IMB Piracy Reporting Centre (PRC) in Kuala Lumpur, Malaysia.

Piracy Map
  • Piracy Map
  • Live Piracy Report
  • Piracy News
  • Request Piracy Report
  • Report & Incident
  • Voluntary Sponsors
  • Twitter

A newsletter about fraud and global asset recovery from the office of International Chamber of Commerce's FraudNet. To read about key asset recovery cases and global compliance with anti-fraud and money-laundering laws, please click in the link above for the Newsletter PDF.

Piracy Map
  • Conferences
  • Members
  • News
  • Publications

CCS offers a flexible membership arrangement based on the selection of predetermined membership packages. A prospective member can elect to join one or more Bureaux according to their requirements.

  • Membership to IMB
  • Membership to FIB
  • Membership to CIB
  • NVOCC REGISTER

Losses due to official misconduct account for a great many maritime trade incidents. Each incident can be complex and wide-ranging in nature. It is therefore unlikely that any one company will have the knowledge and resources to be able to investigate it thoroughly.

  • Case work
  • Due Diligence
  • Internet investigations
  • Litigation Support
  • Vessel reports
  • Trade Finance documents authentication

Counterfeiting and piracy are a drain on our businesses and on the global economy. It has resulted in the widespread loss of lawful employment and a massive reduction of tax revenues.

  • Confidential bulletin
  • Counterfeiting Confidential
  • Hologram Image Register
  • Commercial crime international
  • Chartering experience programme

IMB launches initiative to curb bills of lading fraud

  • Created
    Thursday, 14 February 2019
  • Created by
    Josh Lamorena
  • Last modified
    Thursday, 14 February 2019
  • Revised by
    Josh Lamorena
  • Voting
    Average rating
    • 1
    • 2
    • 3
    • 4
    • 5
  • Favourites
    1260 IMB launches initiative to curb bills of lading fraud /index.php/site_content/item/1260-imb-launches-initiative-to-curb-bills-of-lading-fraud
  • Categories
    News

5The International Maritime Bureau (IMB) has launched a new initiative aimed at curbing bills of lading (B/L) fraud carried out by non-vessel owning common carriers (NVOCCs).

 

 

5

The International Maritime Bureau (IMB) has launched a new initiative aimed at curbing bills of lading (B/L) fraud carried out by non-vessel owning common carriers (NVOCCs).

The IMB NVOCC Register provides a business solution to a business problem affecting parties involved in international shipping and trade.

B/Ls are crucial documents relied upon by many stakeholders in the trading chain including banks, shipping companies, carriers and charterers.

IMB - which conducts B/L checks for its members - says while the vast majority of NVOCCs issue B/Ls correctly, there is a small minority that do not. 

This could lead to fraudulent practices, and banks that unwittingly process false B/Ls could discover that either there are no cargoes underlying the documents or that the shipments may be misrepresented.

IMB’s says that up to 95 percent of the false B/Ls identified by the Bureau are issued by NVOCCs.

An IMB spokesman said, “Incidents of ship owners/carriers or their agents issuing false B/Ls are uncommon because they take a big risk in doing so and open themselves to legal action. 

“However, unlike the carriers or their agents, the majority of NVOCCs do not have any assets which are at risk in these transactions except for their reputations.

“The NVOCC Register therefore recognises participating NVOCCs who adhere to a minimum standard of anti-fraud measures in their operations,” the IMB spokesman added.

IMB is inviting NVOCCs to sign up to its NVOCC Register. In doing so they will also have to sign up to a Code of Conduct for the issuance of B/Ls. Failure to comply with the Code of Conduct may result in removal of the NVOCC from the Register in certain circumstances. 

The intention is not to exclude defaulting NVOCCs but to help them improve the steps taken to issue bills of lading which is relied upon by a number of other stakeholders. 

IMB says an advantage of signing up to the Register is that banks may process the documents of NVOCCs on the Register faster than those that are not.  

The IMB NVOCC Register is backed by an online course designed by the IMB and run by the ICC Academy which specialises in trade related online training (https://icc.academy/). 

The IMB NVOCC Register was officially launched in Singapore last month, attended by more than 100 representatives from banks, logistics companies and trading firms. A panel discussion and question and answer session was held during the launch, and a video of it can be viewed at https://www.youtube.com/watch?v=0809qRjF_VA&feature=youtu.be

 

JEM - Module-Basic

  • Pitfalls and Remed...
    Sun, 23. April 2023 - Fri, 28. April 2023

Contact

Contact

© Commercial Crime Services, a division of the ICC Company limited by guarantee registered in England No 05716642 Registered office Cinnabar Wharf, 26 Wapping High Street LONDON E1W 1NG Tel: +44 (0)20 7423 6960 E-mail us your comments and remarks

  • Site Map
  • Privacy Policy
  • Terms & Conditions
  • Employee login