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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.
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The 2008 Commercial Crime Services (CCS) Annual Economic Crime Lecture, held 19 June in London, addressed the complex issue of corporate corruption.
The 2008 Commercial Crime Services (CCS) Annual Economic Crime Lecture, held 19 June in London, addressed the complex issue of corporate corruption.
Featured speaker Laurence Cockcroft, chairman of Transparency International (UK), examined the numerous challenges that companies face while trying to remain both honest and aggressive.
Mr Cockcroft examined a number of specific case studies, highlighting the pervasiveness of corporate corruption. He provided facts and figures in support of his case that four major corporations, Siemens, ABB Baker Hughes, BAE Systems, Chevron, each used a definite and specific strategy of bribery to expand market share.
CCS Director Pottengal Mukundan commented: "Mr Cockcroft presented a great deal of expert information detailing the scope of this global problem. A constant and increasing threat to law and order and business ethics, corporate corruption remains a topic of significant international concern. CCS is pleased that Mr Cockcroft was able to bring a wealth of information on the subject to this year's annual Economic Crime Lecture."
In this lecture, Mr Cockcroft argued that while significant efforts have been made in the areas of legislation, regulation, and even voluntary business codes, high profile corporate corruption persists and major cases continue to be reported around the globe.
In support of his thesis, Mr Cockcroft cited the findings of a 2006 Control Risks Group survey which found that 22% of UK companies surveyed, and 28% of German companies surveyed said they believed that they had failed to win a contract or gain new business during the past 12 months because a competitor had paid a bribe. In Hong Kong the figure was considerably higher, at 66%. 42% of Brazilian respondents felt the same way.
Lack of awareness of rules and regulations relating to international business ethics was introduced as a factor contributing to global corporate corruption. Statistics supporting this case indicate that in Brazil, for example, 70% of those surveyed admitted being totally ignorant of legislation covering foreign bribery. In France, the figure was 54% and in the UK 48%.
Mr Mukundan added; "Conference attendees found Mr Cockcroft's lecture highly insightful. CCS supports his conclusions that global anti-corruption measures must be made a higher priority and receive increased support by international and national regulatory authorities.
For more information about this lecture or upcoming CCS lectures, please contact CCS at ccs@icc-ccs.org.
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Expert witness testimony supplied by the Financial Investigation Bureau (FIB) has helped conclude a major fraud and money laundering case.
Expert witness testimony supplied by the Financial Investigation Bureau (FIB) has helped conclude a major fraud and money laundering case.
A number of individuals were ultimately convicted of significant financial crimes by a London court, in part due to information and expertise provided by the FIB.
Lindani Mangena and his co-conspirators used a variety of scams to con unsuspecting victims out of an estimated 3.2 Million GBP. Most members of the group were found guilty of fraudulent trading, money laundering, and unauthorised investment business practises, and were sentenced to a combined total of 114 months in prison.
Mangena was found guilty of fraudulent trading, money laundering and carrying on an unauthorised investment business and was sentenced to 7 years imprisonment. His accomplices Dean Hinkson and Curtis Powell were both found guilty of communicating an invitation or inducement to engage in investment activity and were both given custodial sentences of 15 months. Jordan Huie was charged with communicating an invitation or inducement to engage in investment activity, however no verdicts were reached by the jury.
FIB Assistant Director John Lavers stated: “The FIB is always pleased to support the efforts of the courts by providing expert witness testimony. We are encouraged that our services resulted in the successful conviction of a number of perpetrators of financial fraud.”
Commenting on the length of sentencing handed down by the presiding judge in the case; Mr. Lavers noted that there appears to be a definite trend in the UK courts to convict individuals to longer terms as a means of deterring others. Moreover, he added that the Crown Prosecution Service (CPS) is taking these types of cases more seriously as they have been deemed to be in the public interest.
The details of the case saw victims offered various false investments and promised exorbitant returns of up to 25 times their original investment amount. Prosecuting on behalf of the crown, Stephen Winberg argued that the victims were: “much more ready to believe what they were told because it came from members of the same tight-knit religious community.”
Mangena and his gang used their religious affiliation as Seventh Day Adventists to win the trust of fellow churchgoers, and then proceeded to con them out of significant sums of money.
Mr Lavers noted: “The use, or abuse, of religion as means of persuading individuals to invest in scams of this nature is a growing trend. We are seeing similar illegal activity in the United States, Canada and Australia. These kinds of operations are increasingly well organized and international in scope.”
To date, police have recovered a total of 900,000 GBP and are still searching for the remainder of the money. Unfortunately, for the unwitting investors, as a result of extravagant spending by the fraudsters, over 1 million GBP has been lost without any hope of recovery.
For more information on this case, FIB expert witness testimony or other services offered by the bureau, please contact the FIB at Tel: +44 20 7423 6960 or Email: fib@icc-ccs.org
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The ICC International Maritime Bureau (IMB) has come out in support of a joint campaign launched by the International Chamber of Shipping (ICS), Intertanko, Intercargo, BIMCO and the International Transport Workers Federation (ITF) that urges governments to take firm action on the issue of maritime piracy off the coast of Somalia.
The ICC International Maritime Bureau (IMB) has come out in support of a joint campaign launched by the International Chamber of Shipping (ICS), Intertanko, Intercargo, BIMCO and the International Transport Workers Federation (ITF) that urges governments to take firm action on the issue of maritime piracy off the coast of Somalia.
The campaign, aimed at raising awareness of the human and economic costs of maritime piracy, urges governments around the world to prioritise six key actions:
•Reducing the effectiveness of easily identifiable motherships
•Authorising naval forces to hold pirates and deliver them for prosecution and punishment
•Fully criminalising all acts of piracy and intent to commit piracy under national laws, in accordance with their mandatory duty to co-operate to suppress piracy under international conventions
•Increasing naval assets available in the affected areas
•Providing greater protection and support for seafarers
•Tracing and criminalising the organisers and financiers behind the criminal networks
So far in 2011, 13 vessels have been hijacked by suspected Somali pirates, with a total of 243 crewmembers taken hostage. In addition, six crew were kidnapped from a vessel that was hijacked and then left adrift in the Indian Ocean. Of most concern, however, are the seven murders committed by Somali pirates- three of which were crew on board the hijacked Beluga Nomination.
On 25 February 2011 saw four attempted attacks on vessels over an 8-hour period in the same area, which suggests the use of the same mother ship. In three of the four incidents vessels were fired upon, with either with automatic weapons or rocket-propelled grenades. A further two incidents were reported on 27 and 28 February 2011, the second of which resulted in the successful hijacking of a vessel and her 24 crewmembers. Given the distances and time involved between the six incidents, it is a distinct possibility that they were all launched from the same mother ship.
IMB Director Pottengal Mukundan commented: “The past six months have seen a significant escalation in pirate activity off the coast of Somalia. Strong action against suspected motherships is necessary to prevent further attacks. Recent months have seen robust action by several navies, most notably South Korea, Malaysia and India, and we urge countries with naval vessels in the region, in consultation with the shipowners, to follow this lead.”
The Save Our Seafarers (SOS) campaign asserts that 90% of the world’s food, fuel, raw materials and manufactured goods delivered by sea. Of this, around half travels through the pirate-infested Indian Ocean. The Open Earth Foundation estimates that piracy costs the world economy between USD 7 and 12 billion per year.
Mr Mukundan continued: “There have been reports of greater violence and mistreatment of the sailors in pirate captivity. This is unacceptable. We urge governments to commit greater resources to this problem and push for more prosecution of the pirates- the SOS campaign reports that 80% of those pirates caught are released without prosecution – this is precisely the wrong signal to send to the pirates”
For up-to-date information on maritime piracy, please visit www.icc-ccs.org. For more information on the Save Our Seafarers campaign, visit www.saveourseafarers.com.
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