Alert after fraudulent diversion of cash

International Transport Intermediaries Club (ITIC) has warned members to perform proper bank account checks when transferring funds to principals and intermediaries, following the fraudulent diversion of a significant sum of cash transmitted in good faith by ship agents to the master of a ship. The ship agents received a request from a shipowner to deliver US$45,000 in cash to the ship’s master during an upcoming port call. The funds were remitted and received by the agents who, a few days later, received a call from a supply company and then from the master asking that, rather than delivering the full amount to the master, they should first deduct part of the amount as payment for fresh provisions, to be delivered to the ship during its stay at the port.