Marine fraud is as old as marine insurance. Until the middle of the 1970s this problem was regional, affecting local marine companies and insurance markets. Recently however along with the increasing globalisation of trade fraud is also breaking regional boundaries.

Since the creation of the International Maritime Bureau in 1981, more than a million acts of piracy or marine fraud have been reported.  

The upsurge in international fraud has focused the attention of many  governments and transportation bodies around the world, particularly as technology offers the potential for new opportunities for the fraudsters.

Certainly the "best" frauds are the ones we don't know about yet!