Watch out for fraud

Christian Ott, of Skuld Singapore, provides some practical advice to maritime interest at increasing risk of being defrauded

In recent years, the shipping industry and wider maritime commerce has seen a sharp increase in not only the number of fraud cases, but also the variety of fraud. Fraudsters are becoming more ingenious in their design and execution of schemes, including the use of technology, such as computer hacking, but sometimes tried and tested “old school” methods, such as document fraud, work just as well.