Saturday, November 2, 2013

Somali Piracy Is Big business


Somali Piracy: More Sophisticated Than You Thought -- Business Insider/The Economist

A new study reveals how Somali piracy is financed

PIRACY remains a concern for ships passing the Horn of Africa, even though the number of incidents has plummeted since 2011, when armed protection was beefed up on board many large vessels. The topic grips the public imagination. Witness the success of "Captain Phillips", a film in which a vessel captained by the actor Tom Hanks is hijacked by Somalis. Yet the pirate economy is poorly understood. A report*, to be released on November 4th by Interpol and the Stolen Asset Recovery Initiative, a UN and World Bank project, sheds new light.

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My Comment: It appears that this problem is now shifting to certain western parts of Africa.

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