The Claims Review - Issue 10, 2000

FRAUD

Fraud is not just someone else's problem. All Members of ITIC should be aware that they are exposed to claims for fraud. The transport industry is especially vulnerable to fraudulent activity. It is an international business, cargo can be of high value, large sums are involved with chartering ships, and the industry is still dependant on documents such as bills of lading, charter parties and survey reports. In this edition of the claims review, ITIC recounts the experience of its Members as the victims of fraud, both from outside sources and, unfortunately, from within, and when employees have colluded with outside sources. The claims review ends with some simple suggestions as to how transport industry professionals can try to limit their exposure to fraud, from whatever direction it may come.

Claims Review 10