The International Policy Ransoms Task Force issued its final report on Somali piracy on 11 December 2012. Since the task force was launched, there has been a dramatic reduction in piracy activity. Reported attacks declined from 176 in 2011 to 35 as of November 2012.
The Task Force concluded that ransoms not only reward pirates for their crime, but they provide the main source of funds to support further piracy activity. They strengthen the criminal elements that benefit from them, fuel corruption and undermine the rule of law.
The Task Force acknowledged there are no actions that could immediately bring a halt to the payment of ransoms, especially privately paid ransoms. However, there are a range of options, some of which are already being explored that could reduce and avoid the risks posed by ransom payments to pirates.
Click here to read the final report.