Publication

Pirate Trails : Tracking the Illicit Financial Flows from Pirate Activities off the Horn of Africa

World Bank, United Nations Office on Drugs and Crime, Interpol

2013

Overview

It is estimated that US$339 million to US$413 million was claimed in ransoms between April 2005 and December 2012 for pirate acts off the Horn of Africa. Twenty-first century piracy in this region has developed as a violent criminal act, which not only affects the victims but also has an impact on the region and the global economy. Chapter two describes the context and audience for the study; explains the study's methodological framework, including information on what data sources were available; and identifies the challenges in undertaking the study. Chapter three provides background on the issues of pirate activities off the coast of Somalia and the Horn of Africa, and defines the problem of piracy and its origins. Section two then focuses on understanding the financial flows with respect to piracy activities. Chapter four looks at the ransoms paid to pirates, starting with negotiations of the ransoms and the volume of money involved. Then chapter five focuses on the distribution of proceeds from piracy to the various actors involved in supporting or carrying out pirate activities. Chapter six explores the ways in which proceeds are moved in and out of Somalia. Chapter seven looks at how the financiers invest their proceeds. Following this analysis, chapter eight focuses specifically on investment by piracy financiers in the khat business and real estate. In the final section three, chapter nine of the study concludes with suggested areas for policy and operational engagement within the region and beyond.

• Publisher: Washington, DC: World Bank
• Subject: Abuse / abuses / access to information / accountability / administrative capacity / aid effectiveness / anti-corruption / anti-money laundering / armed forces / Assets / availability of data / bank account / bank officials / banking system / banks / basic services / borrowing / boundaries / boundary / Business Activities / Business Model / business models / businesses / businessmen / capability / capacity building / Chamber of Commerce / civil war / collapse / commercial banking / commodity / Common Market / Conflict / Convention / corruption / counterparts / Criminal / criminal enterprise / criminal groups / criminals / custom / customs / deposit / Development Bank / Distribution Network / drug / drug trafficking / Drugs / e-mail / economic activities / economic resources / electronic transaction / embassies / enforcement agencies / exchange of goods / expenditures / families / farmers / federal government / fighting / financial capacity / financial crime / Financial Crimes / FINANCIAL FLOWS / financial institutions / financial intelligence / financial intelligence unit / financial intelligence units / Financial Market / financial operations / financial support / financial transactions / flow of funds / flow of goods / Fraud / frauds / gangs / global economy / government officials / hostage / hostages / human capacity / humanitarian assistance / identification number / identity module / ill-gotten money / IMF / information sharing / Initiative / Insurance premiums / Integrity / international actors / International Bank / international community / international investigations / international security / international shipping / international trade / investigation / investment opportunities / job opportunities / joint ventures / Justice / law enforcement / Law of the Sea / laws / lawyers / leadership / legal issues / license / licenses / Maritime Piracy / market price / marketing / material / member states / mercenaries / minister / missing value / Money Laundering / money transfer / money transfers / monitoring mechanism / monopoly / movement of goods / Nations / negotiations / negotiator / Networks / new technology / nongovernmental organization / nongovernmental organizations / offense / offenses / organized crime / outreach / payment card / payment methods / Peace / phone numbers / photo / Piracy / Police / Private Sector / Private Sector Development / private sectors / Prosecution / Prosecutions / prostitutes / queries / Real Estate / receipt / reconciliation / Reconstruction / Refugees / Regional Cooperation / regulatory framework / reliability / remittance / remittances / result / results / Soldiers / source of information / Telephone / Terrorism / torture / translation / transparency / trial / UNDP / Union / United Nations Security Council / unregulated financial institutions / uses / victims / violence / war / war economies / weapon / Wire Transfers / World Development / world trade
• ISBN: 9780821399637, 0821399632