Senate inquiry finds flag of convenience poses security risks

A Senate committee has brought down its a report into Flag of Convenience (FOC) Shipping finding that it poses major security risks. The Rural and Regional Affairs and Transport References Committee report chronicles holes in Australia’s national security framework just one day after a Government announcement to create a new Ministry of Home Affairs. FOC shipping refers to international trading vessels that are registered in tax havens such as Liberia, Panama and the Marshall Islands. These registries are renowned for their lax labour laws, poor investment controls and lack of ownership oversight.

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