What are the impacts of flags of convenience and secrecy to the global effort to curb fisheries crime? In monetary terms, crimes in the fisheries sector – fisheries crime – are vastly profitable. A conservative estimate is that as much as USD 23.5 billion is lost to illegal and unregulated fishing each year. Still, the actual costs of fisheries crime to society, including tax crime and other ancillary crimes in the fisheries sector, far exceed the value of lost resources. Vulnerable coastal states lose out on revenue, employment opportunities and infrastructure development, and suffer the consequences of food insecurity, instability and loss of biodiversity.
This report is a joint effort between the INTERPOL Fisheries Crime Working Group (FCWG) and the North Atlantic Fisheries Intelligence Group (NA-FIG). It is a record of the conclusions and findings of a multi-disciplinary group of auditors, investigators and analysts who have come together at regular intervals over the last four years to analyse and discuss their experience and knowledge about flags of convenience and secrecy and their impacts on fisheries crime law enforcement