Cost to Hire Security Guards to Stop Pirates

in Business Risk, Transnational Crime

The Security Association of the Maritime Industry (Sami) reported to the BBC that there were over 200 companies providing security services in the north-west region of the Indian Ocean.  139 companies are members of the association, with almost half of the members being companies based in the United Kingdom.

The companies provide a range of services, from ransom negotiation to armed guards to prevent kidnappings. An armed guard working in a group of three can make up to $634 (500 British Pounds) in a 5-day tour.

As of March 2012, there were over 100 sailors being held for ransom by pirates off the coast of Somalia.

Source:  Peter Jackson, “The UK firms who tackle Somali pirates,” BBC News, March 24, 2012.

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