Question: Kidnapping, ransom, and extortion ( KRE ) is a multi - billion dollar ( illegal ) business ( Links to an external site. ) .
Kidnapping, ransom, and extortion KRE is a multibillion dollar illegal business Links to an external site. Estimates of kidnapping for ransom range from KK cases per year. Your small USCanada based company, is now expanding overseas into several countries. You will be sending US and Canadian employees over in various roles general managers as years expats, key staff in month assignments, as well as experts for weeks or days at a time.
Some of the countries you are entering are experiencing increases in KRE. You are responsible for developing the approach and policy for kidnapping, ransom, extortion response. Your CEO asks you to answer these questions which should be explicitly addressed in your post:
Who's involved?
What leaders, eg department heads in the company, do you need to inform the decision?
What experts, if any, from outside the company do you need to inform the decision?
What is your Company Policy?
As a policy, will your company pay ransom to criminals who kidnap your employees? What are the implications of this decision?
If # is anything other than a definitive No be aware that there is a big legal business providing KidnapRansonExtortion insurance to companies. Do you recommend the company buy insurance coverage in the event of KRE?
Do you inform employees of your company policy? What are the implications of doingnot doing so
If your company policy is to pay KRE, would you recommend paying ransom for any employee local employees such as salespeople, administrative staff, or plant workers as well as management or specialist employees assigned from other countries? What are the implications of adopting a policy to pay KRE for any employee or just certain ones?
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