ITIC issues warning about fraudulent diversion of funds

Fraudulent diversion of funds is on the increase in the maritime sector, notes a warning issued Friday by the International Transport Intermediaries Club (ITIC).

ITIC, managed by Thomas Miller, issued a warning in March about the fraudulent diversion of port expenses, but reported Friday it is “now seeing evidence of similar frauds being perpetrated across the wider marine industry.”

ITIC reports that in a typical such fraud, the party due to make a payment will receive a bogus message – email addresses used by fraudsters are only very slightly different to the genuine ones – altering the recipient’s bank details. Examples have included the diversion of ship agents’ disbursements accounts, the statement notes.

“Any message changing account details should be regarded with suspicion, and steps taken to secure independent verification of instructions,” ITIC advises.

Checks to verify “should not involve replying to the suspect email, but rather using a different channel of communication or, at the very least, re-entering the email address copied from a message known to be genuine,” the statement adds.

ITIC supports a wide range of businesses from the sole trader consultancy to major organizations, the organization said on its website. The sectors supported include aviation, marine, rail, specialist surveyors, yachtservices and other specialists.

ITIC issues fraud warning: The International Transport Intermediaries Club (ITIC) has warned that the fraudule… http://t.co/O4H4ormSFV

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