Title: Investigation Into the Causes of Fraudulent Practices in Ship Registration
Authors: Sabas Shayo, Benjamin Meli, Keneth Oliver Mbaga
Volume: 8
Issue: 10
Pages: 242-245
Publication Date: 2024/10/28
Abstract:
Fraudulent practices in ship registration have become a significant concern in the global maritime industry, undermining regulatory frameworks and posing risks to international trade and security. This paper investigates the underlying causes of fraudulent ship registration, with a focus on regulatory loopholes, flag of convenience (FOC) systems, lack of transparency, and inadequate enforcement of international standards. Through an extensive literature review and qualitative analysis, the study explores how these factors contribute to fraudulent practices, their impacts on the industry, and potential measures to mitigate them. Findings suggest that a combination of institutional reforms and enhanced global cooperation is essential to reduce fraud in ship registration.