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The ICC’s International Maritime Bureau (IMB) reports that acts of piracy are increasing at an alarming rate off the eastern coast of Somalia. Fifteen violent incidents have taken place since mid-March of this year. This is a dramatic increase compared with only two such attacks in all of 2004. Ships sailing in these waters are advised to be extremely cautious.
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.