Pirate attacks and robberies against smaller vessels such as fishing boats and pleasure boats are highlighted in the Commercial Crime International (CCI) June newsletter.

A case where International Maritime Bureau’s Piracy Reporting Centre has played a key role in assisting a family involved in an attack on their yacht located off Panama is being presented.

The Swedish Club members can access the CCI June newsletter through the SCOL website (The Swedish Club Online member area).

The latest CCI newsletter regarding commercial crime also includes the following topics:

FRAUD
Analysis on the latest case concerning an injunction to freeze bank accounts used to deposit the proceeds of push payment fraud. ICC FraudNet member Monfrini Bitton Klein’s Partner Yves Klein has received the ‘Asset Recovery Lawyer of the Year Award’ at the Who’s Who Legal Awards.

MONEY LAUNDERING
Guidance is being developed on the use of digital identity for customer due diligence to support the responsible use of innovative technologies to boost AML/CFT efforts.

BRIBERY & CORRUPTION
The United States has issued a fresh alert to financial institutions about continued widespread public corruption in Venezuela. Singapore continues to see low incidences of corruption.

CYBERCRIME
The financial sectors in the European Union could benefit from a coherent cyber resilience testing framework. The Financial Crimes Enforcement Network has issued two advisories on convertible virtual currencies, one advisory highlights ‘red flags’ to look out for.

Member Alert is published by The Swedish Club as a service to members. While the information is believed correct, the Club cannot assume responsibility for completeness or accuracy.