ITIC Warns of Forged Emails for Cargo Delivery

Thursday, October 25, 2007
Ship agents are increasingly faced with attempts to obtain delivery of cargo using forged emails, according to the International Transport Intermediaries Club (ITIC). Writing in the latest edition of its annual publication, The Intermediary, ITIC indicated that fraud in shipping is endemic, cargoes are valuable, and it has never been easier to forge documents, electronic communications, bills of lading, and other documents. Carriers and their agents must be vigilant and take necessary steps to avoid becoming unnecessarily involved in costly claims for damages. ITIC notes that misrelease of valuable cargo is a major factor in claims by principals against their agents, and explains that carelessness in dealing with telex releases has contributed to these losses. ‘Telex release’ is the industry term for the release of cargo at one port when the original bill of lading has been surrendered at another. Today, despite its name, the telex release is almost always made by email. ITIC says there are two main problems with telex releases. First, they are often poorly worded and dealt with in a careless manner. The second problem with telex releases, says ITIC, results from email fraud. In its Guidelines for the Release of Cargo, ITIC recommends that agents check the authenticity of messages from other agents to release cargo. ITIC has recently been notified of several claims involving telex release by faked emails. These are emails received by discharge port agents that have been manipulated to appear as though they have originated from the load port agent, and authorize release of cargoes and confirm that freight has been received when it has not. ITIC advises agents asked to perform a telex release to first obtain written authority from their principal. And it concludes that telex releases must never be accepted at face value.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

POSH raises $311m in Singapore IPO

POSH prices IPO at S$1.15 per share, near bottom of indicative range. POSH focuses on service to production, maintenance and is keen on growing offshore accommodation business.

Otto Marine's Financial Health on the Mend

Michael See Kian Heng, Group Executive Director of Singapore-based offshore vessel owners & shipbuilders Otto Marine, says that his company reported revenue of US$512.

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

Maritime Security

Coast Guard Pacific Area Command Changeover

The US Coast Guard informs that Rear Adm. Charles W. Ray will relieve Vice Adm. Paul F. Zukunft  (US Coast Guard Commander designate) as Commander, Coast Guard

4th cycle of SR 520 pontoons completed in Aberdeen

Another six State Route 520 bridge pontoons began floating out of the Aberdeen casting basin late Tuesday night, April 15, marking completion of the fourth of six

Treadwell: Arctic Security Should Be National Priority

Lt. Governor Mead Treadwell delivered the keynote address yesterday at the Arctic Collaborative Workshop in Fairbanks. Treadwell discussed five reasons why

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0676 sec (15 req/sec)