January 23, 2013
Investors and businesses in emerging markets increasingly have another thing to worry about: kidnapping for ransom.
What was once a crime associated mostly with Latin America is becoming worryingly common across the rest of developing world. “Over the last four, five years, kidnapping has become more global of a phenomenon,” says Jim Brooks, CEO of Control Risks. “It’s always happened globally, but now we’re seeing people exploit kidnapping as a means of revenue generation for whatever they’re doing.”
About 55% of the world’s recorded kidnaps-for-ransom in 2004 were in Latin America (Colombia, Mexico and Venezuela generally have some of the highest numbers). Last year, the region accounted for only a quarter of the incidents, and Asia and Africa made up over half. Ransoms average around $2 million, according to Greg Bangs of Chubb Group of Insurance Companies, but in some places like Sub-Saharan Africa they are as much as $60 million. See the list of the top 20 countries with the highest numbers of kidnapping cases here (p. 84).
Why are we seeing the spread of this trend? For one, places that have been recently destabilized are reporting more cases, like the Middle East following the Arab Spring in 2011. Or foreign investment and travel by foreigners to new markets may simply be providing more kidnapping opportunities in more places. Brooks says, “I suspect it’s a variety of things from the global war on terror to higher economic challenges and increasing… knowledge and understanding of [kidnapping for ransom] as a criminal enterprise.”
For the CAC course (Conduct after Capture) contact ABP World Group. The objective of this course is to better prepare civilians for a kidnap/hostage situation and improve their chances of getting home alive.
ABP World Group Risk Management
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