Piracy & Counterfeiting

New trading frauds threaten banks and buyers

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ICC’s International Maritime Bureau (IMB) continues to uncover fraudulent activity in the shipping industry, recently discovering a number of trade scams emanating from China and Estonia.

Iraq declared new piracy hotspot

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Iraq has been cited as a new world piracy hotspot in the 2005 Annual Report on Piracy and Armed Robbery released by the International Chamber of Commerce.

Somali pirates detained by US Navy

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Acting on a report from the International Maritime Bureau’s (IMB), Kuala Lumpur based Piracy Reporting Center, the US Navy intercepted and apprehended a band of suspected pirates. The guided-missile destroyer USS Winston S. Churchill located the pirate vessel in the Indian Ocean, approximately 87 kilometers off the central eastern coast of Somalia.

ICC appeals for naval protection against pirates

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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.

Unprecedented increase in piracy attacks off Somalia

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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.

IMB Report Finds Piracy Declining

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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.

Piracy heats up in Somali waters

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ICC’s International Maritime Bureau (IMB) warns that acts of piracy are on the rise in Somali waters. Since March 2005, there have been at least five attempted hijackings, two of which escalated into full blown acts of life-threatening piracy. This rise in threatening activity comes after a period of relative calm. Only two incidents of piracy were recorded in the whole of 2004.

Trade Fraud hits Iranian shipments

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Fraudulent activity in Iran’s secondary trade finance market has attracted the attention of the International Maritime Bureau (IMB), a unit of ICC’s Commercial Crime Services.