While Somali pirates demonstrated increased range and capabilities, there has been a relative decline in pirate attacks worldwide for the first two quarters of 2010, according to a report issued today by the International Chamber of Commerce’s International Maritime Bureau.

Following a recent spate of attempted attacks in the region, Somali pirates successfully hijacked a vessel in the southern part of the Red Sea on Sunday.

The 10th Annual CCS Economic Crime Lecture, sponsored by QEB Hollis Whiteman and PCB Litigation, gave an insight into the mindset of fraudsters and showed how companies can use this information to redefine their own security plans and procedures.

The ICC Financial Investigation Bureau (FIB) has urged caution over sourcing commodities from online suppliers, particularly from those who offer a wide range of products but lack established credentials.