The Association is grateful to Kroll in Hong Kong for co-operating in the production of this update for members.
The development
Members will no doubt have read about the increasing risk of fraud and crime facing the shipping industry and new technologies open up new opportunities for the criminal element to pursue their goals.
Shipping is now entering the age of cyber crime, which is a dangerous new frontier for an industry that has hitherto focused overwhelmingly on the physical risk of shipping and which must now evolve its approach to face the less tangible threats.
Loss prevention advice
The Association has worked with experts Kroll in Hong Kong to develop the attached loss prevention bulletin for member's reference.
Members are strongly recommend to carefully consider the possible vulnerabilities, and these extend beyond mere threats coming via emails with links and attachments that seek to install malicious software.
Given the increasing reliance on electronic documentation in shipping, as well as electronic aids including AIS and ECDIS, combined with increasing automation at the most modern container ports, the opportunities for technologically advanced criminals are plentiful.
Success in shipping in the future will require being able to manage this "intangible" risk just as much as ensuring ships are physically safe at sea.