Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

International

Konecranes' subsidiary loses $19.1 million in fraud

August 17, 2015 Reprints

Finland-based Konecranes P.L.C. said that one of its overseas units has become the victim of a fraud, World Maritime News reports.

The culprits managed to prompt the subsidiary to make unwarranted payments worth up to €17.2 million ($19.1 million) through identity theft and other fraudulent actions.

The port automation solutions provider has a crime insurance coverage for the whole group and the sum insured is €10 million ($11.1 million).

The company has reported the crime to the police authorities in the relevant nations.

Help

Konecranes' subsidiary loses $19.1 million in fraud

Readers Poll

Most Read in International

Sign up now for free access to this article and much more.

If you are already registered with Business Insurance, click here to Login

Please tell us a bit more about yourself in order to continue

About

Advertise

Reprints and Licensing

Resources