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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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About the ICC
FraudNet was founded in 2004 by the Paris-based International Chamber of Commerce (ICC), the world’s business organization, and operates under the auspices of the ICC’s London-based Commercial Crime Services unit.
ICC Commercial Crime Services (CCS) is the anti-crime arm of the International Chamber of Commerce. Based in London, CCS is a membership organisation tasked with combating all forms of commercial crime. The specialist divisions that comprise CCS offer a range of services dedicated to meeting the individual needs of the members. Together, they tackle all types of commercial crime; fraud in international trade, insurance fraud, financial instrument fraud, money laundering, shipping fraud and product counterfeiting.
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The Frontline-
Meet Our Global Recovery Team
FraudNet’s highly-experienced asset recovery attorneys are selected using strict criteria established by the Standards and Procedures Committee, which operates under the aegis of the FraudNet Secretariat of the Commercial Crime Services. The Committee diligently identifies and vets each proposed FraudNet member candidate.
FraudNet’s hand-picked members are individual lawyers, not entire law firms. Membership is personal and non-transferable. Our members are required to govern themselves according to rigorous professional standards enforced by the Standards and Procedures Committee.
Members meet twice a year to review current fraud trends. They often collaborate to improve cross-border cooperation and deliver seamless results to victims. Our members also present their findings at conferences around the world and share their expertise with law enforcement and governmental agencies fighting fraud.
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Asset Tracing and Recovery
Represented a German individual defrauded by a group of Nigerian businessmen acting from Lebanon, Cyprus and New York in an international bank instrument fraud. US$ 800,000 was initially frozen in a bank account in Cyprus. FraudNet members in the British Virgin Islands, where the alleged account holder lived, and Cyprus filed an extraordinary ex-parte application for a Mareva injunction to freeze the account coupled with a Norwich Pharmacal/Bankers Trust Order on document disclosure. The team worked with various governmental agencies, including the Cypriot Anti Money Laundering Unit, to obtain information used in the Cypriot proceedings. A winding up application was filed in the British Virgin Islands to recover monies in Cyprus bank accounts.
Represented a Jersey corporation in an action to trace assets in the Cayman Islands. The case involved the fraudulent disposition of assets and dishonest breaches of trust among a number of individuals and corporate entitles in multiple jurisdictions. A freezing injunction of assets valued at over US$ 80 million and proceedings to trace and recover an additional US$ 10 million through various banking institutions and insurance companies in the Cayman Islands are ongoing. Directions are awaited pursuant to the Cayman Islands Confidential Relationships (Preservation) Law (1995 Revision).
Represented a UK casino to freeze the assets in the name of a fraudster, arrest an aircraft in the name of the fraudster’s alleged alter ego, obtain a series of disclosure and anti-tip off orders and freeze bank accounts in various European jurisdictions.
Represented spouse in tracing proceeds of £2 million fraud against deceased UK businessman who placed business assets offshore, but was defrauded by business colleague.
Worked with the English solicitors and appeared for the successful beneficiaries in the landmark Jersey case on the scope of the constructive trust remedy in that jurisdiction, the principles of tracing and the Pauline action (a decision influential in the development of the law of trusts).
Worked under the direction of FraudNet member and in conjunction with lawyers in several jurisdictions to obtain court orders in the Cook Islands requiring a local trust company to provide secret pre-action discovery in relation to its dealings with a US judgment debtor who had hidden assets in several offshore centers.
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The Frontline-
Meet Our Global Recovery Team
FraudNet’s highly-experienced asset recovery attorneys are selected using strict criteria established by the Standards and Procedures Committee, which operates under the aegis of the FraudNet Secretariat of the Commercial Crime Services. The Committee diligently identifies and vets each proposed FraudNet member candidate.
FraudNet’s hand-picked members are individual lawyers, not entire law firms. Membership is personal and non-transferable. Our members are required to govern themselves according to rigorous professional standards enforced by the Standards and Procedures Committee.
Members meet twice a year to review current fraud trends. They often collaborate to improve cross-border cooperation and deliver seamless results to victims. Our members also present their findings at conferences around the world and share their expertise with law enforcement and governmental agencies fighting fraud.
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