Sponsors Sought to Fund New ICC Anti-Fraud Unit

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Wednesday, June 1, 1994
Volume: 
10
Issue: 
6
245
Abstract: 
A major insurance company is said to be facing fraud losses of £20 million.  Yet, the company has apparently not been able to find a police authority or other law enforcement agency that is capable of dealing with its problem because of the absence of agencies who have sufficient knowledge or experience in dealing with international commercial crime. This is particularly problematic given the increasing prevalence of commercial crime, which has a destabilizing effect on countries’ economies. To be able to effectively respond, the International Chamber of Commerce believes that a proper Commercial Crime Services (CCS) unit is needed and moreover, that it should be funded by those who would have the greatest use--commerce itself…[more]