ITIC would like to bring all members’ attention to today’s (Wednesday 29th November 2017) announcement from Clarkson PLC that it was subject to a cyber security incident, which involved unauthorised access to the company’s computer systems. In light of this, we would like to share the following advice....
It is a fact that violent crime has significantly reduced over the last few years. Why is this? Criminals have not changed; they still want to get their hands on your money. The answer is that it is easier stealing money in cyber space than robbing a bank in the real world. Shipping will always be an attractive target for fraudsters because of its international focus. ITIC has seen this trend of cyber fraud ever increasing, particularly involving fraudulent emails. The average cost of these frauds is US$120,000...
International Transport Intermediaries Club (ITIC) has launched a cyber liability extension to ITIC policies to protect its existing professional indemnity members against the growing threat posed by hackers.
ITIC issued circulars to members in 2014 and 2015 in relation to the fraudulent diversion of port expenses, hire/freight payments and cash to master expenses through interception of email communications...
International Transport Intermediaries Club (ITIC) says fraudulent diversion of funds is on the increase in the maritime sector.Having previously issued a warning about the fraudulent diversion of port expenses, ITIC says it is now seeing evidence of similar frauds being perpetrated across the wider marine industry. In a typical such fraud, the party due to make a payment will receive a bogus message altering the recipient’s bank details...
ITIC has previously issued two circulars to Members warning of fraudulent messages altering bank details. Unfortunately ITIC has continued to receive reports of these frauds and accordingly is reminding Members to be vigilant...
ITIC issued a circular to Members in 2014 in relation to the fraudulent diversion of port expenses. Unfortunately ITIC is seeing evidence of similar frauds being perpetrated across the wider marine industry and advises all Members to be vigilant.
ITIC are hosting an informal breakfast briefing, for insurance brokers, to provide an overview of the additional products offered, in addition to E&O cover.
ITIC has become aware of a scam which has resulted in pre-funded port costs being diverted to a fake bank account.
Everyone makes mistakes...
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