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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.
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.
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.
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.
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.
The 2008 Commercial Crime Services (CCS) Annual Economic Crime Lecture, held 19 June in London, addressed the complex issue of corporate corruption.
Despite a surge of activity that sought to curb business corruption in the 1990s, there is little evidence of a real fall in incidents of bribery in international business transactions, or in the wider forms of corruption in which companies have been implicated.
There were 49 attacks reported to the Piracy Reporting Centre in the first three months of 2008 as compared to 41 for the corresponding period in 2007, states the ICC International Maritime Bureau (IMB) in its latest quarterly piracy report.
The French sailing cruise vessel LE PONANT, hijacked near the approaches to the Gulf of Aden on 4 April 2008, was released by its hijackers on 12 April 2008.
Around ten pirates armed with automatic weapons stormed the luxury vessel whilst she was under way in the Gulf of Aden. The vessel and her 30 crew were taken to the Somali coast where they were held hostage. The vessel was monitored by a French naval vessel whilst at anchorage.
Reports indicate that once the safety of the 30 crew was guaranteed, an elite force attacked and captured six pirates. The hijackers are currently being held by the French authorities. It is understood that there have been five fatalities during the attack.
The turnaround period between the time that the vessel was hijacked, negotiations completed, ransom paid and crew released was markedly quicker than recent examples of hijacked vessels. It is possible that the rapid French military presence was a key factor in this.
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