The International Transport Intermediaries Club (ITIC) has warned P&I correspondents to tighten payment checks after a fraudster diverted a US$200,000 payment, reports Bangalore's Marine Insight.

The case involved a claim for a deceased seafarer. A third party intercepted email exchanges, posed as family members, and provided false bank details. Consequently, the P&I correspondent transferred the funds, which were later withdrawn and became unrecoverable.

ITIC's claims director, Mark Brattman, stated that the incident illustrates how advanced payment interception fraud has become. He cautioned that requests to change bank details should be treated as serious warning signs.

Mr. Brattman noted that fraudulent emails are increasingly difficult to detect. Mismatches between account names and payees, or discrepancies in the country of the bank account, should be checked carefully.

Once the fraud was discovered, the correspondent informed the P&I Club. Legal advisers confirmed the claimant's identity, and the shipowner paid the settlement again, covering additional legal costs to ensure the family received compensation.

ITIC confirmed that the correspondent was insured and reimbursed for the extra legal costs incurred. The club stated that the fraud occurred because the new bank details were not properly verified before payment approval.

ITIC has advised correspondents to use secure, multi-channel communication when confirming payment instructions. It stressed that bank details should be verified independently and urged stronger internal controls for settlements and high-value payments.