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The ICC Financial Investigation Bureau (FIB) is warning investors based in the Middle East to be wary if offered the opportunity to invest in any pre-IPO (Initial Public Offering) companies. The FIB is also recommending that caution be exercised in responding to any large-scale regional glossy magazine or newspaper advertisements making similar offers.
According to a recently released report from the ICC’s International Maritime Bureau (IMB), the number of reported piracy attacks worldwide is down approximately 30%. Between January and June 2005, 127 acts of piracy were reported, a notable decrease from the 182 attacks counted during the same period in the previous year.
ICC’s Financial Investigation Bureau (FIB) is warning that several blacklisted Nauru-registered banks still appear to be in operation. In 2002, the South Pacific island was designated a money laundering concern by the US Department of the Treasury.