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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.
An alarming rise in the number of piracy attacks off the coast of Somalia is reported by the ICC International Maritime Bureau (IMB). After a quiet spell of nearly two years, says the bureau, serious attacks by heavily-armed pirates have resumed: 25 in the past six months. In one incident a ship was lured into danger by pirates firing bogus distress flares.
The International Maritime Bureau has reported an unprecedented increase in the number of serious attacks off Somalia. Recently two vessels have been attacked around 90 miles off the coast over two consecutive days by pirates.
Since 15 March 2005, there have been 23 attacks against vessels off the southern and eastern coast of Somalia. Once the vessels have been taken over they are taken close in-shore and the pirates typically demand a ransom for the return of the vessel and the crew.
A vessel carrying a World Food Programme cargo into Somalia, was seized by pirates and held for over 14 weeks. A sister vessel which went to provide fuel and provisions to the attacked vessel was also seized by the same gang. The pirate gangs appear to have the protection and support of the local warlords and see this as a lucrative source of revenue with minimal risk to themselves. This is a region with a high number of coalition naval vessels who could play an important role in responding to these crimes.
Vessels are approached by one or two fast boats. The pirates on board have automatic weapons and sometimes a rocket propelled grenade launcher. They will fire on the bridge windows of the vessel to force the captain to slow down or stop. Once the vessel slows down, the pirates draw up alongside and clamber on board and take over the vessel.
“These attacks take place in international waters and we call upon the naval vessels in the region to come to the assistance of the hijacked ships. At the very least, they can prevent the hijackers from taking these ships into Somali waters. Once the vessels have entered these waters the chances of any law enforcement response is negligible. There is no national law enforcement infrastructure in Somalia. These waters have become a pirate’s charter and unless the international community takes action against these criminals, vessels passing this coast face considerable danger. ” said Pottengal Mukundan, Director of the ICC International Maritime Bureau.
For further information please contact
ICC International Maritime Bureau
1 Linton Road
Tel: +44 (0)20 8591 3000
Fax: +44 (0)20 8594 2833
Everyone in business knows that financial fraud is a growing threat. The question is how best to deal with it. No financial services business is immune and now there is increasing pressure by regulators upon the industry to meet international standards of know-your-customer.
The ICC's Financial Investigation Bureau (FIB), has received numerous reports of irregularities stemming from banks registered in Anjouan, Comoros Islands, off the east coast of Africa. Specifically, the FIB has learned of several incidents where offers of trade financing, commercial lending or asset-backed lending were made against false financial instruments such as Letters of Credit, Standby Letters of Credit, and Bank Guarantees.